Envestnet Portfolio Solutions Inc. Takes $705,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Envestnet Portfolio Solutions Inc. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,875 shares of the casino operator's stock, valued at approximately $705,000.

A number of other institutional investors have also recently made changes to their positions in WYNN. Vanguard Group Inc. grew its holdings in shares of Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Fisher Asset Management LLC boosted its position in Wynn Resorts by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator's stock valued at $358,183,000 after buying an additional 20,091 shares during the period. Norges Bank purchased a new stake in Wynn Resorts during the 4th quarter valued at $157,305,000. Janus Henderson Group PLC boosted its position in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock valued at $115,082,000 after buying an additional 204,852 shares during the period. Finally, Bamco Inc. NY boosted its position in Wynn Resorts by 5.1% during the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator's stock valued at $80,591,000 after buying an additional 38,160 shares during the period. Institutional investors own 68.87% of the company's stock.

Wynn Resorts Trading Down 0.8 %

NASDAQ:WYNN traded down $0.58 on Tuesday, reaching $76.02. 1,837,347 shares of the stock traded hands, compared to its average volume of 1,928,223. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.70 and a beta of 1.82. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company's fifty day simple moving average is $83.19 and its 200 day simple moving average is $93.75.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Wynn Resorts, Limited will post 5.59 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, August 19th. Wynn Resorts's payout ratio is 13.70%.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 2,446 shares of the firm's stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the transaction, the director now owns 9,226 shares of the company's stock, valued at $870,842.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Thursday, May 23rd. Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Morgan Stanley dropped their price target on shares of Wynn Resorts from $115.00 to $107.00 and set an "equal weight" rating for the company in a research report on Friday, July 12th. Citigroup raised their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus raised their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus target price of $116.73.

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.