Wynn Resorts, Limited $WYNN Stock Position Lifted by Oak Harvest Investment Services

Key Points

• Oak Harvest Investment Services increased its holdings in Wynn Resorts by 20.8% during the first quarter, acquiring an additional 5,511 shares, bringing its total to 32,058 shares valued at approximately $2.68 million.
• Wynn Resorts recently reported earnings of $1.09 per share, missing analysts' expectations of $1.20, while its revenue was $1.74 billion, consistent with estimates and up 0.6% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, reflecting an annualized payment of $1.00 and a yield of 0.9%, with a payout ratio of 30.03%.

Oak Harvest Investment Services raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 20.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,058 shares of the casino operator's stock after acquiring an additional 5,511 shares during the period. Oak Harvest Investment Services' holdings in Wynn Resorts were worth $2,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WYNN. Barrow Hanley Mewhinney & Strauss LLC boosted its position in 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 valued at $269,308,000 after purchasing an additional 485,204 shares during the period. Jefferies Financial Group Inc. grew its position in shares of Wynn Resorts by 9.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock worth $145,059,000 after acquiring an additional 139,270 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in Wynn Resorts in the 4th quarter valued at about $101,375,000. Regal Partners Ltd boosted its stake in Wynn Resorts by 21.5% during the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after purchasing an additional 192,873 shares during the period. Finally, Raymond James Financial Inc. grew its position in Wynn Resorts by 12.7% in the 1st quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock worth $82,834,000 after purchasing an additional 111,428 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WYNN shares. Macquarie boosted their price objective on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Jefferies Financial Group increased their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Citigroup restated a "neutral" rating and set a $114.00 price objective (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Morgan Stanley increased their target price on shares of Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Finally, Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus target price of $121.93.

Wynn Resorts Stock Up 2.9%

Shares of NASDAQ WYNN traded up $3.54 during mid-day trading on Thursday, hitting $126.74. 2,231,198 shares of the company traded hands, compared to its average volume of 2,462,748. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $126.88. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 6.33 and a beta of 1.41. The business has a 50 day moving average of $106.83 and a two-hundred day moving average of $92.30.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted 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 negative return on equity of 56.78% and a net margin of 5.51%.The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. Wynn Resorts's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio is presently 30.03%.

About Wynn Resorts

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.