Neo Ivy Capital Management Makes New $48,000 Investment in Wynn Resorts, Limited $WYNN

Neo Ivy Capital Management acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the second quarter, Holdings Channel reports. The fund acquired 510 shares of the casino operator’s stock, valued at approximately $48,000.

Several other large investors have also recently made changes to their positions in WYNN. Catalyst Funds Management Pty Ltd bought a new stake in Wynn Resorts in the second quarter worth about $520,000. MTM Investment Management LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter valued at about $31,000. SG Americas Securities LLC grew its stake in Wynn Resorts by 6.0% in the 2nd quarter. SG Americas Securities LLC now owns 29,021 shares of the casino operator’s stock worth $2,718,000 after buying an additional 1,651 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Wynn Resorts by 5.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,584 shares of the casino operator’s stock worth $2,022,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Oak Harvest Investment Services increased its position in shares of Wynn Resorts by 2.2% during the 2nd quarter. Oak Harvest Investment Services now owns 32,770 shares of the casino operator’s stock valued at $3,070,000 after purchasing an additional 712 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred 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 sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Wynn Resorts from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Macquarie raised their target price on shares of Wynn Resorts from $110.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Mizuho lifted their target price on shares of Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. The Goldman Sachs Group increased their price target on shares of Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, Barclays boosted their price objective on shares of Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $134.38.

Wynn Resorts Stock Up 2.1%

NASDAQ:WYNN opened at $119.60 on Friday. The firm’s fifty day simple moving average is $123.19 and its 200 day simple moving average is $110.28. The stock has a market cap of $12.44 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate 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 last year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is 22.37%.

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.