MassMutual Private Wealth & Trust FSB Increases Holdings in Wynn Resorts, Limited $WYNN

Key Points

• MassMutual Private Wealth & Trust FSB increased its stake in Wynn Resorts by 30.6% in Q2, holding 15,873 shares valued at approximately $1.49 million.
• The company reported Q2 earnings of $1.09 EPS, missing expectations by $0.11, with a revenue of $1.74 billion.
• Wynn Resorts declared a quarterly dividend of $0.25 per share, reflecting a 0.8% yield for shareholders.

MassMutual Private Wealth & Trust FSB increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 30.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,873 shares of the casino operator's stock after purchasing an additional 3,723 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Wynn Resorts were worth $1,487,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WYNN. DAVENPORT & Co LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth approximately $49,476,000. Nuveen LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth approximately $41,731,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Wynn Resorts by 758.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 386,721 shares of the casino operator's stock worth $32,291,000 after purchasing an additional 341,688 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Wynn Resorts by 9,135.7% during the 1st quarter. GAMMA Investing LLC now owns 266,449 shares of the casino operator's stock worth $22,248,000 after purchasing an additional 263,564 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 4.4%

Shares of NASDAQ WYNN traded up $5.40 during trading on Thursday, hitting $128.68. 1,952,259 shares of the company traded hands, compared to its average volume of 1,866,411. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $129.01. The company has a 50-day moving average price of $114.73 and a 200-day moving average price of $96.32. The firm has a market capitalization of $13.38 billion, a P/E ratio of 38.64, a P/E/G ratio of 6.34 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. Research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts's payout ratio is currently 30.03%.

Insider Activity

In related news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on WYNN. Barclays lifted their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Mizuho lifted their target price on shares of Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. Macquarie lifted their target price on shares of Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Finally, The Goldman Sachs Group began coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They issued a "buy" rating and a $122.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $125.47.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.