Raymond James & Associates Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Raymond James & Associates grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,845 shares of the casino operator's stock after buying an additional 3,579 shares during the period. Raymond James & Associates owned 0.09% of Wynn Resorts worth $9,473,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Wynn Resorts by 4,067.4% in the fourth quarter. International Assets Investment Management LLC now owns 7,668 shares of the casino operator's stock valued at $699,000 after purchasing an additional 7,484 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Wynn Resorts in the 4th quarter valued at about $528,000. Federated Hermes Inc. lifted its position in Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator's stock worth $40,000 after acquiring an additional 140 shares during the last quarter. abrdn plc boosted its holdings in shares of Wynn Resorts by 66.8% during the fourth quarter. abrdn plc now owns 44,621 shares of the casino operator's stock worth $4,065,000 after acquiring an additional 17,875 shares during the period. Finally, CWM LLC grew its position in shares of Wynn Resorts by 9.6% in the fourth quarter. CWM LLC now owns 2,354 shares of the casino operator's stock valued at $214,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 68.87% of the company's stock.

Wynn Resorts Trading Down 0.2 %

Wynn Resorts stock traded down $0.13 during mid-day trading on Monday, reaching $77.24. The company had a trading volume of 1,315,375 shares, compared to its average volume of 1,919,200. The business has a fifty day simple moving average of $82.43 and a 200 day simple moving average of $93.28. The company has a market cap of $8.66 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.72 and a beta of 1.82. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

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

Wynn Resorts Announces Dividend

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

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the business'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 transaction of $230,877.94. Following the sale, the director now directly owns 9,226 shares of the company's stock, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WYNN. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a report on Thursday, May 23rd. Morgan Stanley dropped their target price on Wynn Resorts from $115.00 to $107.00 and set an "equal weight" rating for the company in a report on Friday, July 12th. StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Jefferies Financial Group cut their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a "hold" rating for the company in a report on Thursday, July 11th. Finally, 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 report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus target price of $116.73.

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.