Perpetual Ltd Acquires New Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Perpetual Ltd bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,614 shares of the casino operator’s stock, valued at approximately $676,000.

A number of other institutional investors have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its holdings in Wynn Resorts by 18.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,630 shares of the casino operator’s stock worth $1,332,000 after buying an additional 2,272 shares during the last quarter. Kestra Advisory Services LLC lifted its position in Wynn Resorts by 11.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,202 shares of the casino operator’s stock valued at $573,000 after acquiring an additional 633 shares in the last quarter. Nordea Investment Management AB boosted its stake in Wynn Resorts by 823.4% during the 3rd quarter. Nordea Investment Management AB now owns 62,142 shares of the casino operator’s stock valued at $5,833,000 after purchasing an additional 55,412 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Wynn Resorts by 20.7% in the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after purchasing an additional 248,820 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of Wynn Resorts in the 3rd quarter worth $192,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $89.70 on Friday. The stock has a market cap of $10.05 billion, a P/E ratio of 12.29 and a beta of 1.85. The stock’s fifty day moving average is $94.89 and its 200 day moving average is $96.56. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. Analysts predict that Wynn Resorts, Limited will post 5.58 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the sale, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on WYNN. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Morgan Stanley raised their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Mizuho assumed coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price on the stock. Finally, StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.31.

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.