First City Capital Management Inc. Makes New $286,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

First City Capital Management Inc. bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,192 shares of the casino operator’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WYNN. International Assets Investment Management LLC acquired a new position in Wynn Resorts during the second quarter worth about $25,000. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $27,000. Register Financial Advisors LLC purchased a new position in Wynn Resorts in the 1st quarter valued at approximately $37,000. Neo Ivy Capital Management acquired a new position in Wynn Resorts during the fourth quarter worth $40,000. Finally, Versant Capital Management Inc purchased a new stake in Wynn Resorts during the second quarter worth $51,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $79.71 on Friday. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.80. The company has a 50 day moving average price of $78.33 and a 200 day moving average price of $89.67. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its 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). The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.44 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WYNN has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley lowered their price target on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group cut their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus reduced their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wynn Resorts 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.