Coastwise Capital Group LLC Purchases 1,419 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Coastwise Capital Group LLC grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 21.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,106 shares of the casino operator’s stock after acquiring an additional 1,419 shares during the quarter. Coastwise Capital Group LLC’s holdings in Wynn Resorts were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WYNN. Biglari Capital CORP. bought a new position in Wynn Resorts during the third quarter valued at $13,308,000. Biglari Sardar bought a new stake in shares of Wynn Resorts in the 3rd quarter worth about $5,868,000. ARGA Investment Management LP purchased a new stake in shares of Wynn Resorts during the 3rd quarter valued at about $2,174,000. JAT Capital Mgmt LP bought a new position in shares of Wynn Resorts in the 3rd quarter valued at about $6,232,000. Finally, Captrust Financial Advisors grew its position in Wynn Resorts by 41.2% in the third quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock worth $399,000 after acquiring an additional 1,215 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna increased their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Finally, Macquarie reaffirmed an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 3.0 %

Shares of NASDAQ:WYNN opened at $94.38 on Monday. The business’s 50 day moving average is $94.90 and its 200 day moving average is $87.91. The stock has a market cap of $10.36 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 4.78 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Wynn Resorts’s payout ratio is presently 12.33%.

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.