Quest Partners LLC Acquires 9,124 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Quest Partners LLC raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 91,240.0% during the second quarter, HoldingsChannel reports. The fund owned 9,134 shares of the casino operator’s stock after purchasing an additional 9,124 shares during the quarter. Quest Partners LLC’s holdings in Wynn Resorts were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of WYNN. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the 2nd quarter valued at $25,000. ICA Group Wealth Management LLC bought a new position in shares of Wynn Resorts in the fourth quarter worth $27,000. Register Financial Advisors LLC bought a new position in shares of Wynn Resorts in the first quarter worth $37,000. Neo Ivy Capital Management bought a new position in shares of Wynn Resorts in the fourth quarter worth $40,000. Finally, Versant Capital Management Inc bought a new position in shares of Wynn Resorts in the second quarter worth $51,000. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Down 2.0 %

NASDAQ WYNN opened at $75.35 on Wednesday. The company has a 50-day simple moving average of $79.48 and a two-hundred day simple moving average of $90.91. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.72 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results 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 net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts expect that Wynn Resorts, Limited will post 5.55 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.33%. Wynn Resorts’s payout ratio is 13.70%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday, May 23rd. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Macquarie reaffirmed an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group cut their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.07.

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.