Land & Buildings Investment Management LLC Makes New $5.49 Million Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Land & Buildings Investment Management LLC acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,356 shares of the casino operator's stock, valued at approximately $5,491,000. Wynn Resorts accounts for about 1.3% of Land & Buildings Investment Management LLC's holdings, making the stock its 19th biggest position. Land & Buildings Investment Management LLC owned about 0.05% of Wynn Resorts at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the second quarter valued at $25,000. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $27,000. Register Financial Advisors LLC acquired a new stake in shares of Wynn Resorts during the first quarter worth $37,000. Neo Ivy Capital Management acquired a new position in Wynn Resorts during the fourth quarter valued at $40,000. Finally, Versant Capital Management Inc acquired a new position in Wynn Resorts during the second quarter valued at $51,000. Institutional investors and hedge funds own 68.87% of the company's stock.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. Macquarie reissued an "outperform" rating and set a $126.00 price target on shares of Wynn Resorts in a research report on Wednesday, August 7th. Morgan Stanley dropped their price target on Wynn Resorts from $107.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 4th. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group dropped their price target on Wynn Resorts from $111.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and an average target price of $113.73.

Wynn Resorts Stock Performance

Shares of WYNN traded up $2.97 during trading hours on Tuesday, hitting $83.18. 2,452,509 shares of the company were exchanged, compared to its average volume of 1,933,578. The company has a market cap of $9.32 billion, a PE ratio of 10.99, a PEG ratio of 2.04 and a beta of 1.80. The firm's 50 day moving average is $78.24 and its 200-day moving average is $89.45. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

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 (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.20%. Wynn Resorts's payout ratio is 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.