Quadrant Private Wealth Management LLC Raises Position in Wynn Resorts, Limited $WYNN

Quadrant Private Wealth Management LLC grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 18,895 shares of the casino operator’s stock after purchasing an additional 966 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Wynn Resorts were worth $1,770,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WYNN. First Horizon Advisors Inc. boosted its position in shares of Wynn Resorts by 30.9% during the second quarter. First Horizon Advisors Inc. now owns 640 shares of the casino operator’s stock valued at $60,000 after purchasing an additional 151 shares in the last quarter. Strs Ohio raised its holdings in Wynn Resorts by 2.2% in the second quarter. Strs Ohio now owns 91,996 shares of the casino operator’s stock worth $8,617,000 after purchasing an additional 1,996 shares in the last quarter. Private Wealth Partners LLC lifted its position in Wynn Resorts by 3.1% during the second quarter. Private Wealth Partners LLC now owns 3,360 shares of the casino operator’s stock valued at $315,000 after buying an additional 100 shares during the period. Bessemer Group Inc. lifted its position in Wynn Resorts by 18.2% during the second quarter. Bessemer Group Inc. now owns 1,175 shares of the casino operator’s stock valued at $110,000 after buying an additional 181 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Wynn Resorts by 19.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,848 shares of the casino operator’s stock valued at $2,043,000 after buying an additional 3,602 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WYNN shares. Jefferies Financial Group increased their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. The Goldman Sachs Group upped their price objective on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Macquarie raised their target price on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Barclays upped their price target on Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $132.58.

Wynn Resorts Stock Performance

WYNN opened at $126.14 on Friday. The company’s 50-day simple moving average is $123.52 and its two-hundred day simple moving average is $107.26. The stock has a market capitalization of $13.12 billion, a P/E ratio of 37.88, a P/E/G ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 17th. Wynn Resorts’s payout ratio is 30.03%.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the transaction, the director directly owned 3,066 shares of the company’s stock, valued at $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

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.