Optimist Retirement Group LLC Acquires 426 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Optimist Retirement Group LLC grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 20.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,501 shares of the casino operator’s stock after buying an additional 426 shares during the quarter. Optimist Retirement Group LLC’s holdings in Wynn Resorts were worth $224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts during the second quarter valued at $25,000. ICA Group Wealth Management LLC purchased a new position in shares of Wynn Resorts during the fourth quarter valued at $27,000. Register Financial Advisors LLC purchased a new position in shares of Wynn Resorts during the first quarter valued at $37,000. Neo Ivy Capital Management purchased a new position in shares of Wynn Resorts during the fourth quarter valued at $40,000. Finally, Versant Capital Management Inc purchased a new position in shares of Wynn Resorts during the second quarter valued at $51,000. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $78.78 on Thursday. The business’s 50-day simple moving average is $78.65 and its two-hundred day simple moving average is $90.02. The company has a market cap of $8.74 billion, a PE ratio of 10.79, a PEG ratio of 2.04 and a beta of 1.80. 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 issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Wynn Resorts’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that Wynn Resorts, Limited will post 5.44 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Wall Street Analyst Weigh In

Several research firms have recently commented on WYNN. Jefferies Financial Group reduced their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. cut their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, May 23rd. Finally, UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $113.73.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts 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 completion of the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

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.