Magnetar Financial LLC Invests $529,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Magnetar Financial LLC acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,916 shares of the casino operator’s stock, valued at approximately $529,000.

Several other hedge funds have also recently made changes to their positions in the business. Public Sector Pension Investment Board bought a new position in shares of Wynn Resorts in the 2nd quarter worth about $258,000. First City Capital Management Inc. bought a new position in shares of Wynn Resorts in the 2nd quarter worth about $286,000. ProShare Advisors LLC raised its position in shares of Wynn Resorts by 9.7% in the 2nd quarter. ProShare Advisors LLC now owns 27,744 shares of the casino operator’s stock worth $2,483,000 after acquiring an additional 2,451 shares in the last quarter. Sei Investments Co. raised its position in shares of Wynn Resorts by 2.4% in the 2nd quarter. Sei Investments Co. now owns 142,350 shares of the casino operator’s stock worth $12,742,000 after acquiring an additional 3,312 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Wynn Resorts by 75.4% in the 2nd quarter. Pacer Advisors Inc. now owns 15,323 shares of the casino operator’s stock worth $1,371,000 after acquiring an additional 6,585 shares in the last quarter. 68.87% of the stock is owned by institutional investors.

Insider Transactions at Wynn Resorts

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

Wynn Resorts Stock Performance

Shares of WYNN opened at $84.16 on Wednesday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a 50 day moving average price of $78.21 and a two-hundred day moving average price of $89.34. The firm has a market capitalization of $9.34 billion, a P/E ratio of 11.53, a P/E/G ratio of 2.07 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced 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). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. Wynn Resorts’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Wynn Resorts, Limited will post 5.44 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. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. Wynn Resorts’s payout ratio is presently 13.70%.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of research analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a research report on Wednesday, August 7th. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wells Fargo & Company decreased their target price on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Five 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.73.

Wynn Resorts 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.