39,343 Shares in Wynn Resorts, Limited (NASDAQ:WYNN) Purchased by Lmcg Investments LLC

Lmcg Investments LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,343 shares of the casino operator's stock, valued at approximately $3,772,000.

Several other hedge funds and other institutional investors have also modified their holdings of WYNN. International Assets Investment Management LLC acquired a new position in Wynn Resorts in the 2nd quarter worth about $25,000. Blue Trust Inc. raised its position in Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock valued at $49,000 after acquiring an additional 467 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Wynn Resorts in the second quarter valued at approximately $51,000. Covestor Ltd grew its position in Wynn Resorts by 421.7% in the first quarter. Covestor Ltd now owns 626 shares of the casino operator's stock worth $64,000 after acquiring an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator's stock worth $74,000 after purchasing an additional 166 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Stock Down 0.4 %

Wynn Resorts stock traded down $0.34 during mid-day trading on Friday, reaching $95.68. The company had a trading volume of 1,737,673 shares, compared to its average volume of 2,356,954. The company has a 50 day moving average of $89.82 and a 200-day moving average of $88.88. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.49 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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). 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 the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Wynn Resorts, Limited will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.05%. Wynn Resorts's dividend payout ratio (DPR) is currently 13.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WYNN shares. UBS Group raised shares of Wynn Resorts to a "hold" rating in a research note on Friday, August 23rd. Barclays upped their price target on Wynn Resorts from $108.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $110.00 to $101.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus reduced their target price on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a report on Friday, September 13th. Finally, Macquarie reiterated an "outperform" rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $116.21.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,650 shares of the company's 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 owns 5,689 shares of the company's stock, valued at $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Company 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.