Brookstone Capital Management Has $546,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Brookstone Capital Management reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 16.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,337 shares of the casino operator’s stock after selling 1,022 shares during the quarter. Brookstone Capital Management’s holdings in Wynn Resorts were worth $546,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WYNN. Vanguard Group Inc. lifted its stake in Wynn Resorts by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 10,862,024 shares of the casino operator’s stock valued at $989,639,000 after acquiring an additional 41,251 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Wynn Resorts by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock valued at $358,183,000 after acquiring an additional 20,091 shares during the last quarter. Norges Bank acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $157,305,000. Charles Schwab Investment Management Inc. lifted its stake in Wynn Resorts by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,178 shares of the casino operator’s stock valued at $70,809,000 after acquiring an additional 2,930 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Wynn Resorts by 24.0% in the third quarter. Deutsche Bank AG now owns 230,328 shares of the casino operator’s stock valued at $21,285,000 after acquiring an additional 44,645 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Trading Up 0.4 %

Shares of WYNN stock opened at $89.50 on Monday. The firm has a market capitalization of $10.03 billion, a P/E ratio of 12.26 and a beta of 1.85. The firm’s fifty day simple moving average is $93.80 and its 200 day simple moving average is $96.92. Wynn Resorts, Limited has a 1 year low of $81.65 and a 1 year high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. Equities research analysts anticipate that Wynn Resorts, Limited will post 5.59 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

WYNN has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Mizuho started coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Three investment 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. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.31.

About Wynn Resorts

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.