Private Wealth Partners LLC Grows Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Private Wealth Partners LLC increased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,040 shares of the casino operator’s stock after buying an additional 275 shares during the period. Private Wealth Partners LLC’s holdings in Wynn Resorts were worth $483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts in the 2nd quarter worth about $25,000. Blue Trust Inc. lifted its holdings in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc purchased a new position in Wynn Resorts in the 2nd quarter valued at about $51,000. Covestor Ltd lifted its holdings in Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after purchasing an additional 166 shares in the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on WYNN shares. Jefferies Financial Group reduced their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Wells Fargo & Company upped their target price on shares of Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays upped their target price on shares of Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.21.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

Wynn Resorts Stock Performance

WYNN opened at $95.68 on Friday. The firm has a 50 day moving average price of $89.82 and a 200 day moving average price of $88.88. The company has a market cap of $10.62 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 2.49 and a beta of 1.80. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) 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 analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.91 EPS. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.42 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.57%.

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.