Game Plan Financial Advisors LLC Takes $695,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Game Plan Financial Advisors LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,800 shares of the casino operator’s stock, valued at approximately $695,000.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Wynn Resorts by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after buying an additional 109 shares during the last quarter. Federated Hermes Inc. lifted its stake in Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares in the last quarter. NBC Securities Inc. boosted its holdings in shares of Wynn Resorts by 3.4% during the 1st quarter. NBC Securities Inc. now owns 6,125 shares of the casino operator’s stock worth $626,000 after purchasing an additional 200 shares during the last quarter. CWM LLC grew its position in shares of Wynn Resorts by 9.6% in the fourth quarter. CWM LLC now owns 2,354 shares of the casino operator’s stock valued at $214,000 after purchasing an additional 206 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Wynn Resorts by 0.9% in the fourth quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock valued at $2,568,000 after purchasing an additional 241 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the transaction, the director now owns 9,226 shares of the company’s stock, valued at $870,842.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Stock Down 0.7 %

Wynn Resorts stock traded down $0.62 during midday trading on Monday, reaching $89.26. The company’s stock had a trading volume of 502,731 shares, compared to its average volume of 1,779,000. The business has a 50-day simple moving average of $94.67 and a 200-day simple moving average of $96.80. The company has a market cap of $10.00 billion, a P/E ratio of 12.36 and a beta of 1.85. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.58 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.12%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Mizuho started coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price for the company. Barclays upped their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Morgan Stanley lifted their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Wells Fargo & Company upped their price objective on Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $121.31.

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.