Future Fund LLC Has $2.88 Million Stock Holdings in Wynn Resorts, Limited $WYNN

Future Fund LLC boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,331 shares of the casino operator’s stock after acquiring an additional 6,002 shares during the period. Future Fund LLC’s holdings in Wynn Resorts were worth $2,877,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Wynn Resorts by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock valued at $665,000 after purchasing an additional 754 shares during the period. Woodline Partners LP raised its stake in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Wynn Resorts by 13.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after buying an additional 201 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Wynn Resorts by 9.5% during the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after buying an additional 868 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Down 1.5%

Shares of WYNN stock opened at $96.64 on Friday. The company has a market capitalization of $10.03 billion, a P/E ratio of 28.85, a P/E/G 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 firm has a 50-day moving average price of $100.32 and a 200 day moving average price of $105.86.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts expect that Wynn Resorts, Limited will post 4.57 earnings per share for the current year.

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna lowered their price objective on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Truist Financial assumed coverage on Wynn Resorts in a report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. Morgan Stanley cut their target price on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

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.