Wynn Resorts, Limited $WYNN Shares Purchased by Signature Estate & Investment Advisors LLC

Key Points

• Signature Estate & Investment Advisors LLC increased its holdings in Wynn Resorts by 756.8%, acquiring an additional 132,771 shares in the first quarter, bringing their total to 150,315 shares valued at approximately $12.55 million.
• Analysts have recently revised their price targets for Wynn Resorts, with a consensus rating of "Moderate Buy" and an average price target of $123.47, indicating strong bullish sentiments among research firms.
• Wynn Resorts announced a quarterly dividend of $0.25 per share, with a dividend yield of 0.8%, reflecting a commitment to returning value to shareholders.

Signature Estate & Investment Advisors LLC raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 756.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 150,315 shares of the casino operator's stock after acquiring an additional 132,771 shares during the quarter. Signature Estate & Investment Advisors LLC owned approximately 0.14% of Wynn Resorts worth $12,551,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dagco Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $25,000. AlphaQuest LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $25,000. Global X Japan Co. Ltd. boosted its position in shares of Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after acquiring an additional 409 shares in the last quarter. Finally, Garde Capital Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $73,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on WYNN. Morgan Stanley upped their price objective on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Stifel Nicolaus upped their target price on Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price for the company in a research report on Wednesday, September 3rd. Mizuho upped their target price on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group upped their target price on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and an average price target of $123.47.

Insider Activity

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company's stock.

Wynn Resorts Stock Down 1.6%

WYNN opened at $120.90 on Monday. The business has a 50 day moving average price of $111.62 and a two-hundred day moving average price of $94.33. The company has a market cap of $12.57 billion, a PE ratio of 36.31, a P/E/G ratio of 6.22 and a beta of 1.37. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $128.53.

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

Wynn Resorts Dividend Announcement

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's dividend payout ratio is 30.03%.

Wynn Resorts Company 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.

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