Prasad Wealth Partners LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Prasad Wealth Partners LLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,500 shares of the casino operator’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Impax Asset Management Group plc acquired a new position in Wynn Resorts during the fourth quarter worth about $655,000. IFP Advisors Inc boosted its position in shares of Wynn Resorts by 2.7% during the 4th quarter. IFP Advisors Inc now owns 10,813 shares of the casino operator’s stock valued at $933,000 after purchasing an additional 281 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Wynn Resorts in the 4th quarter worth approximately $1,010,000. Paradigm Asset Management Co. LLC raised its holdings in shares of Wynn Resorts by 142.4% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 2,213 shares of the casino operator’s stock worth $191,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN opened at $90.15 on Tuesday. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 2.35 and a beta of 1.76. The business’s 50-day moving average is $85.32 and its 200-day moving average is $87.52. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. Wynn Resorts’s payout ratio is 23.75%.

Wall Street Analyst Weigh In

WYNN has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their price target for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Barclays boosted their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $119.58.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

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.