Wedmont Private Capital Acquires 290 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Wedmont Private Capital boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,312 shares of the casino operator’s stock after acquiring an additional 290 shares during the quarter. Wedmont Private Capital’s holdings in Wynn Resorts were worth $459,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WYNN. Nisa Investment Advisors LLC boosted its holdings in shares of Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after purchasing an additional 109 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares in the last quarter. NBC Securities Inc. boosted its holdings in shares of Wynn Resorts by 3.4% in the 1st quarter. NBC Securities Inc. now owns 6,125 shares of the casino operator’s stock worth $626,000 after purchasing an additional 200 shares in the last quarter. CWM LLC boosted its holdings in shares of Wynn Resorts by 9.6% in the 4th quarter. CWM LLC now owns 2,354 shares of the casino operator’s stock worth $214,000 after purchasing an additional 206 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Wynn Resorts by 0.9% in the 4th quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock worth $2,568,000 after purchasing an additional 241 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WYNN shares. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Thursday, May 23rd. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Barclays increased their target price on Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Mizuho started coverage on Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Three 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.31.

Insider Transactions at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the transaction, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 0.2 %

WYNN stock opened at $89.88 on Friday. Wynn Resorts, Limited has a twelve month low of $81.65 and a twelve month high of $112.25. The firm has a market cap of $10.07 billion, a PE ratio of 12.31 and a beta of 1.85. The business has a 50 day moving average of $94.67 and a 200 day moving average of $96.60.

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

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. Wynn Resorts’s dividend payout ratio (DPR) is currently 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.