2,523 Shares in Wynn Resorts, Limited (NASDAQ:WYNN) Acquired by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,523 shares of the casino operator’s stock, valued at approximately $226,000.

Several other hedge funds have also recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the second quarter worth $25,000. ICA Group Wealth Management LLC acquired a new stake in Wynn Resorts during the 4th quarter worth about $27,000. Register Financial Advisors LLC bought a new position in shares of Wynn Resorts in the 1st quarter worth about $37,000. Neo Ivy Capital Management bought a new position in shares of Wynn Resorts in the 4th quarter worth about $40,000. Finally, Versant Capital Management Inc acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at about $51,000. Institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WYNN shares. JPMorgan Chase & Co. decreased their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Macquarie reiterated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Five 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.com, the company has an average rating of “Moderate Buy” and an average price target of $113.73.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Stock Up 8.2 %

WYNN stock opened at $91.03 on Friday. The firm has a market capitalization of $10.20 billion, a PE ratio of 12.47, a P/E/G ratio of 2.17 and a beta of 1.80. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock’s 50 day moving average is $78.34 and its 200-day moving average is $89.32.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared 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. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

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.