Wynn Resorts, Limited (NASDAQ:WYNN) Position Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 267.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,443 shares of the casino operator’s stock after acquiring an additional 12,692 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wynn Resorts were worth $1,783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WYNN. Blue Trust Inc. lifted its holdings in shares of Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at about $27,000. Sunbelt Securities Inc. lifted its holdings in shares of Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Wynn Resorts during the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Morgan Stanley boosted their target price on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company reduced their target price on Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating for the company in a report on Tuesday. Mizuho started coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price for the company. Finally, Citigroup boosted their target price on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.15.

Wynn Resorts Stock Up 1.1 %

Shares of NASDAQ WYNN opened at $87.28 on Thursday. The business’s 50 day moving average is $93.16 and its two-hundred day moving average is $96.82. The company has a market cap of $9.78 billion, a P/E ratio of 11.96 and a beta of 1.82. Wynn Resorts, Limited has a 12 month low of $81.65 and a 12 month high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. Sell-side analysts expect that Wynn Resorts, Limited will post 5.63 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Insider Activity

In other news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the sale, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by company insiders.

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.