Coastwise Capital Group LLC Has $734,000 Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Coastwise Capital Group LLC increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,520 shares of the casino operator’s stock after acquiring an additional 414 shares during the period. Coastwise Capital Group LLC’s holdings in Wynn Resorts were worth $734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WYNN. Public Sector Pension Investment Board bought a new stake in Wynn Resorts in the 2nd quarter valued at $258,000. Marshall Wace LLP acquired a new stake in Wynn Resorts during the second quarter worth approximately $1,869,000. Mackenzie Financial Corp grew its holdings in Wynn Resorts by 312.1% in the 2nd quarter. Mackenzie Financial Corp now owns 15,752 shares of the casino operator’s stock valued at $1,410,000 after buying an additional 11,930 shares in the last quarter. NewEdge Advisors LLC raised its stake in Wynn Resorts by 32.7% in the 2nd quarter. NewEdge Advisors LLC now owns 16,926 shares of the casino operator’s stock worth $1,515,000 after purchasing an additional 4,167 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Wynn Resorts by 43.7% in the 2nd quarter. Truist Financial Corp now owns 22,057 shares of the casino operator’s stock valued at $1,974,000 after acquiring an additional 6,711 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Up 6.5 %

Shares of Wynn Resorts stock opened at $89.60 on Friday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm’s 50 day moving average is $88.21 and its two-hundred day moving average is $86.93. The firm has a market capitalization of $9.84 billion, a P/E ratio of 11.05, a P/E/G ratio of 2.42 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $0.99 EPS. The company’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Wynn Resorts, Limited will post 4.69 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WYNN. Jefferies Financial Group cut their target price on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company dropped their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Morgan Stanley upped their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Three equities research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $117.23.

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.