Lmcg Investments LLC Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Lmcg Investments LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 39,343 shares of the casino operator’s stock, valued at approximately $3,772,000.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in Wynn Resorts during the second quarter worth about $25,000. Blue Trust Inc. grew its position in Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after buying an additional 467 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Wynn Resorts during the second quarter worth about $51,000. Covestor Ltd grew its position in Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after buying an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after buying an additional 166 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction 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 owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on WYNN shares. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus cut their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Jefferies Financial Group cut their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Barclays lifted their target price on shares of Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Four 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.21.

Wynn Resorts Trading Down 0.4 %

Shares of Wynn Resorts stock traded down $0.34 during midday trading on Friday, reaching $95.68. The company had a trading volume of 1,737,673 shares, compared to its average volume of 2,356,954. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 2.49 and a beta of 1.80. The stock has a fifty day simple moving average of $89.82 and a 200 day simple moving average of $88.88. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts expect that Wynn Resorts, Limited will post 5.42 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.57%.

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.