Global Assets Advisory LLC Takes $2.80 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Global Assets Advisory LLC acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 1st quarter, Holdings Channel.com reports. The firm acquired 27,347 shares of the casino operator’s stock, valued at approximately $2,796,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at $27,000. Sunbelt Securities Inc. increased its holdings in Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC purchased a new stake in Wynn Resorts during the 4th quarter worth about $38,000. Finally, Federated Hermes Inc. increased its holdings in Wynn Resorts by 47.5% during 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 during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by insiders.

Wynn Resorts Stock Down 0.9 %

Shares of NASDAQ WYNN opened at $88.30 on Wednesday. The stock has a market cap of $9.90 billion, a PE ratio of 12.10 and a beta of 1.85. Wynn Resorts, Limited has a 52-week low of $81.65 and a 52-week high of $112.25. The business has a 50-day moving average price of $94.24 and a 200 day moving average price of $96.87.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. Sell-side analysts anticipate that Wynn Resorts, Limited will post 5.59 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their price target on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Mizuho assumed coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target on the stock. Morgan Stanley upped their price target on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.31.

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.