Quarry LP Acquires 1,448 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Quarry LP increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 247.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,034 shares of the casino operator’s stock after purchasing an additional 1,448 shares during the period. Quarry LP’s holdings in Wynn Resorts were worth $182,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Empirical Finance LLC boosted its position in Wynn Resorts by 3.7% during the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock valued at $329,000 after acquiring an additional 114 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of Wynn Resorts by 7.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp boosted its position in Wynn Resorts by 8.5% during the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after purchasing an additional 120 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Wynn Resorts by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 149 shares during the last quarter. Finally, Garde Capital Inc. raised its holdings in Wynn Resorts by 10.1% in the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock worth $177,000 after purchasing an additional 160 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company cut 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. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. dropped their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley upgraded Wynn Resorts from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $97.00 to $104.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $114.20.

Insider Transactions at Wynn Resorts

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 completion of the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $95.88 on Tuesday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The company has a market capitalization of $10.75 billion, a PE ratio of 13.13, a P/E/G ratio of 2.52 and a beta of 1.80. The company has a fifty day moving average of $78.87 and a 200 day moving average of $89.05.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion during 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%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. Research analysts expect that Wynn Resorts, Limited will post 5.44 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 annualized dividend and a yield of 1.04%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

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.