Concurrent Investment Advisors LLC Invests $240,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Concurrent Investment Advisors LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,500 shares of the casino operator’s stock, valued at approximately $240,000.

Other institutional investors also recently added to or reduced their stakes in the company. Interval Partners LP grew its stake in Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after acquiring an additional 364,432 shares in the last quarter. Renaissance Technologies LLC grew its stake in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Wynn Resorts by 6,720.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after purchasing an additional 253,761 shares during the period. Janus Henderson Group PLC raised its position in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after purchasing an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on 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 directly owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 corporate insiders.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $86.48 on Tuesday. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market cap of $9.50 billion, a PE ratio of 10.66, a PEG ratio of 2.41 and a beta of 1.80. The business’s 50-day simple moving average is $91.15 and its two-hundred day simple moving average is $88.36.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company posted $0.99 EPS. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that Wynn Resorts, Limited will post 4.9 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Macquarie reaffirmed an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th. Morgan Stanley boosted their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Susquehanna lifted their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Finally, UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts 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.