MQS Management LLC Invests $600,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

MQS Management LLC acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, HoldingsChannel reports. The firm acquired 6,701 shares of the casino operator’s stock, valued at approximately $600,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WYNN. Norges Bank acquired a new position in Wynn Resorts during the 4th quarter valued at about $157,305,000. Interval Partners LP raised its holdings in Wynn Resorts by 999.0% during the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after purchasing an additional 364,432 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Wynn Resorts by 6,720.4% in the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after purchasing an additional 253,761 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after purchasing an additional 204,852 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Macquarie reiterated an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Wynn Resorts Trading Down 1.5 %

NASDAQ:WYNN opened at $78.78 on Thursday. The business’s fifty day moving average price is $78.65 and its 200 day moving average price is $90.02. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.04 and a beta of 1.80. 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 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). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Equities analysts forecast that Wynn Resorts, Limited will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Wynn Resorts’s payout ratio is 13.70%.

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.