NewEdge Advisors LLC Buys 4,167 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

NewEdge Advisors LLC lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 32.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,926 shares of the casino operator’s stock after acquiring an additional 4,167 shares during the quarter. NewEdge Advisors LLC’s holdings in Wynn Resorts were worth $1,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at about $25,000. Register Financial Advisors LLC bought a new stake in Wynn Resorts during the 1st quarter worth approximately $37,000. Neo Ivy Capital Management purchased a new position in Wynn Resorts during the fourth quarter valued at approximately $40,000. Versant Capital Management Inc bought a new position in shares of Wynn Resorts in the second quarter worth approximately $51,000. Finally, Covestor Ltd increased its stake in shares of Wynn Resorts by 421.7% in the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on WYNN shares. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Jefferies Financial Group cut their target price 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. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Stifel Nicolaus cut their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Morgan Stanley upgraded shares of Wynn Resorts from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $97.00 to $104.00 in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.20.

Wynn Resorts Trading Up 2.3 %

WYNN opened at $105.45 on Friday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a fifty day moving average price of $80.55 and a 200-day moving average price of $89.29. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.63 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last announced 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 business 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 firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm 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 annualized dividend and a yield of 0.95%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

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.