Brookstone Capital Management Trims Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Brookstone Capital Management reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 42.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,726 shares of the casino operator’s stock after selling 2,040 shares during the period. Brookstone Capital Management’s holdings in Wynn Resorts were worth $235,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC boosted its position in Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Holocene Advisors LP grew its position in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the period. Eagle Asset Management Inc. acquired a new position in Wynn Resorts in the third quarter valued at $58,486,000. Weiss Asset Management LP purchased a new position in Wynn Resorts during the third quarter worth about $19,753,000. Finally, Regal Partners Ltd grew its holdings in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after buying an additional 174,005 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Macquarie reaffirmed an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday, November 5th. Morgan Stanley boosted their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.23.

Wynn Resorts Trading Up 2.6 %

Shares of Wynn Resorts stock opened at $84.67 on Monday. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.40 and a beta of 1.77. The business’s 50 day simple moving average is $88.96 and its 200-day simple moving average is $86.95.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Wynn Resorts, Limited will post 4.73 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.