Atria Wealth Solutions Inc. Buys 6,423 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Atria Wealth Solutions Inc. increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 193.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,735 shares of the casino operator's stock after purchasing an additional 6,423 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Wynn Resorts were worth $871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WYNN. Norges Bank purchased a new stake in Wynn Resorts during the fourth quarter worth approximately $157,305,000. Interval Partners LP boosted its holdings in Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator's stock valued at $40,985,000 after purchasing an additional 364,432 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Wynn Resorts by 6,720.4% in the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator's stock worth $23,050,000 after acquiring an additional 253,761 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Wynn Resorts by 22.2% in 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 purchasing an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position 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 acquiring an additional 166,594 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WYNN shares. Seaport Res Ptn raised shares of Wynn Resorts from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 30th. Wells Fargo & Company decreased 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. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, May 8th. Barclays upped their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an "overweight" rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $116.73.

Insider Activity

In related news, Director Betsy S. Atkins sold 2,446 shares of the business's stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the transaction, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Price Performance

Shares of WYNN stock traded up $0.28 on Friday, hitting $77.37. 1,479,914 shares of the stock traded hands, compared to its average volume of 2,783,727. The company's fifty day moving average is $82.43 and its 200 day moving average is $93.33. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market capitalization of $8.67 billion, a PE ratio of 10.60, a PEG ratio of 1.72 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share 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 business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company posted $0.91 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that Wynn Resorts, Limited will post 5.59 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. Wynn Resorts's payout ratio is currently 13.70%.

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.