iA Global Asset Management Inc. acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,245 shares of the casino operator's stock, valued at approximately $1,096,000.
Several other large investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its holdings in Wynn Resorts by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator's stock valued at $145,000 after purchasing an additional 111 shares in the last quarter. Empirical Finance LLC increased its holdings in Wynn Resorts by 3.7% in the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator's stock valued at $329,000 after purchasing an additional 114 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Wynn Resorts by 7.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator's stock valued at $178,000 after purchasing an additional 117 shares in the last quarter. Federated Hermes Inc. increased its holdings in Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator's stock valued at $40,000 after purchasing an additional 140 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Wynn Resorts by 36.3% in the 1st quarter. Venturi Wealth Management LLC now owns 597 shares of the casino operator's stock valued at $61,000 after purchasing an additional 159 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
WYNN has been the subject of several recent research reports. Citigroup increased their price target on Wynn Resorts from $132.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their target price on Wynn Resorts from $110.00 to $101.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group lowered their target price on Wynn Resorts from $111.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, July 11th. Argus upgraded Wynn Resorts from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Thursday, May 23rd. Finally, Barclays raised their target price on Wynn Resorts from $124.00 to $128.00 and gave the company an "overweight" rating in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and an average price target of $116.73.
Check Out Our Latest Analysis on Wynn Resorts
Wynn Resorts Trading Up 1.8 %
NASDAQ WYNN traded up $1.34 during trading hours on Friday, reaching $76.88. The company's stock had a trading volume of 3,939,503 shares, compared to its average volume of 1,931,591. The business has a 50-day simple moving average of $81.13 and a 200 day simple moving average of $92.44. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market cap of $8.62 billion, a PE ratio of 10.53, a PEG ratio of 1.72 and a beta of 1.82.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly 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). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.59 EPS for the current year.
Wynn Resorts Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Wynn Resorts's dividend payout ratio (DPR) is presently 13.70%.
About Wynn Resorts
(
Free Report)
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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