Sanctuary Advisors LLC Makes New Investment in Wynn Resorts, Limited $WYNN

Sanctuary Advisors LLC acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 6,391 shares of the casino operator’s stock, valued at approximately $621,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at $609,566,000. Sequoia Financial Advisors LLC boosted its stake in Wynn Resorts by 46.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock worth $92,676,000 after acquiring an additional 243,179 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Wynn Resorts by 97.5% during the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock worth $2,697,000 after acquiring an additional 11,067 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Wynn Resorts in the second quarter worth $1,053,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Wynn Resorts in the second quarter worth $321,402,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

WYNN opened at $95.26 on Friday. Wynn Resorts, Limited has a fifty-two week low of $92.52 and a fifty-two week high of $134.72. The firm has a market capitalization of $9.81 billion, a PE ratio of 23.64, a P/E/G ratio of 0.83 and a beta of 1.01. The company’s 50-day moving average is $99.00 and its 200 day moving average is $102.44.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, analysts expect that Wynn Resorts, Limited will post 4.65 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 24.81%.

Analyst Ratings Changes

WYNN has been the topic of several research reports. Mizuho dropped their price objective on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 target price on shares of Wynn Resorts in a research note on Friday, May 8th. Truist Financial began coverage on Wynn Resorts in a research report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. Argus increased their price target on Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research raised Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $134.19.

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.