Wynn Resorts, Limited (NASDAQ:WYNN) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 10.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,744 shares of the casino operator’s stock after purchasing an additional 2,764 shares during the period. Cetera Investment Advisers’ holdings in Wynn Resorts were worth $2,573,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Truist Financial Corp increased its position in shares of Wynn Resorts by 43.7% during the second quarter. Truist Financial Corp now owns 22,057 shares of the casino operator’s stock worth $1,974,000 after purchasing an additional 6,711 shares in the last quarter. Quarry LP raised its stake in Wynn Resorts by 247.1% in the 2nd quarter. Quarry LP now owns 2,034 shares of the casino operator’s stock worth $182,000 after acquiring an additional 1,448 shares during the last quarter. NewEdge Advisors LLC raised its stake in Wynn Resorts by 32.7% in the 2nd quarter. NewEdge Advisors LLC now owns 16,926 shares of the casino operator’s stock worth $1,515,000 after acquiring an additional 4,167 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in Wynn Resorts in the 2nd quarter worth $899,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Wynn Resorts in the 2nd quarter worth $13,590,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 1.0 %

NASDAQ:WYNN opened at $104.75 on Friday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market capitalization of $11.63 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 2.68 and a beta of 1.81. The stock’s 50-day moving average price is $82.92 and its 200-day moving average price is $89.45.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is 13.57%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WYNN shares. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Wells Fargo & Company reduced their target price on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group cut their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.20.

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.