MBB Public Markets I LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

MBB Public Markets I LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,803 shares of the casino operator’s stock, valued at approximately $698,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WYNN. International Assets Investment Management LLC purchased a new position in Wynn Resorts during the 2nd quarter worth approximately $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 acquired a new position in Wynn Resorts during the first quarter worth about $37,000. Neo Ivy Capital Management purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at $40,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth about $51,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WYNN has been the subject of several research analyst reports. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Macquarie reaffirmed an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company reduced their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $114.20.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Trading Up 3.7 %

NASDAQ WYNN opened at $99.45 on Wednesday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The business’s 50-day moving average price is $79.20 and its two-hundred day moving average price is $89.05. The firm has a market capitalization of $11.15 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.52 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (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 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 business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. As a group, analysts forecast that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Wynn Resorts 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.