Land & Buildings Investment Management LLC Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Land & Buildings Investment Management LLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 61,356 shares of the casino operator’s stock, valued at approximately $5,491,000. Wynn Resorts comprises about 1.3% of Land & Buildings Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Land & Buildings Investment Management LLC owned about 0.05% of Wynn Resorts as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WYNN. Interval Partners LP boosted its holdings in shares of Wynn Resorts by 999.0% during the 1st 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 last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Wynn Resorts by 6,720.4% in the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after buying an additional 253,761 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Wynn Resorts by 22.2% in the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after buying an additional 204,852 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $80.21 on Tuesday. The stock has a market cap of $8.99 billion, a P/E ratio of 10.99, a PEG ratio of 2.04 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 firm’s 50 day moving average price is $78.24 and its 200-day moving average price is $89.45.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Announces Dividend

The firm 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. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WYNN shares. Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at $447,894.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.