Choreo LLC Acquires New Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Choreo LLC bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,092 shares of the casino operator’s stock, valued at approximately $361,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $157,305,000. Interval Partners LP boosted its holdings in shares of Wynn Resorts by 999.0% during the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after acquiring an additional 364,432 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Wynn Resorts by 6,720.4% during the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after acquiring an additional 253,761 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares during the period. Finally, Vanguard Group Inc. lifted its position in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $78.95 on Tuesday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.93 and a beta of 1.80. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a 50 day moving average price of $78.74 and a 200 day moving average price of $90.17.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Macquarie restated an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley decreased their price target on Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group cut their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Wynn Resorts Company Profile

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.