Texas Capital Bank Wealth Management Services Inc Buys New Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,050 shares of the casino operator's stock, valued at approximately $899,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in shares of Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator's stock worth $14,214,000 after buying an additional 7,380 shares during the period. Concord Investment Counsel Inc. purchased a new position in Wynn Resorts in the 1st quarter worth approximately $2,461,000. CIBC Private Wealth Group LLC acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $1,376,000. UniSuper Management Pty Ltd grew its position in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator's stock valued at $1,041,000 after acquiring an additional 8,590 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Wynn Resorts by 1.5% during the first 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 period. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Up 7.2 %

Shares of NASDAQ:WYNN traded up $6.59 on Friday, reaching $97.62. 11,253,062 shares of the company's stock were exchanged, compared to its average volume of 2,031,551. The business's 50-day moving average is $78.63 and its two-hundred day moving average is $89.28. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.17 and a beta of 1.80.

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). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. Wynn Resorts's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Analysts predict that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed 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 was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Wynn Resorts's payout ratio is currently 13.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Macquarie restated an "outperform" rating and set a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. UBS Group upgraded Wynn Resorts to a "hold" rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts from $131.00 to $122.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut their target price on Wynn Resorts from $126.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and an average price target of $114.20.

Insiders Place Their Bets

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

Wynn Resorts 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.