Leith Wheeler Investment Counsel Ltd. Purchases Shares of 149,902 Wynn Resorts, Limited $WYNN

Leith Wheeler Investment Counsel Ltd. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 149,902 shares of the casino operator’s stock, valued at approximately $15,223,000. Wynn Resorts accounts for 1.3% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 22nd biggest position. Leith Wheeler Investment Counsel Ltd. owned approximately 0.14% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. MUFG Securities EMEA plc bought a new position in Wynn Resorts in the 2nd quarter worth $25,000. Hantz Financial Services Inc. raised its holdings in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 89 shares during the period. Cromwell Holdings LLC raised its holdings in Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares during the period. SHP Wealth Management purchased a new position in shares of Wynn Resorts in the fourth quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays cut their target price on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Bank of America dropped their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Truist Financial began coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group set a $120.00 target price on shares of Wynn Resorts in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Wynn Resorts Trading Down 1.0%

Shares of WYNN stock opened at $95.66 on Tuesday. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. Wynn Resorts, Limited has a 12-month low of $93.15 and a 12-month high of $134.72. The stock’s 50-day moving average price is $100.25 and its 200-day moving average price is $105.57.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business posted $1.07 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts, Limited will post 4.53 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is 29.85%.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.