Exchange Traded Concepts LLC Buys 7,315 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Exchange Traded Concepts LLC lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 123.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,222 shares of the casino operator’s stock after acquiring an additional 7,315 shares during the period. Exchange Traded Concepts LLC’s holdings in Wynn Resorts were worth $1,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the second quarter worth about $25,000. Register Financial Advisors LLC bought a new stake in Wynn Resorts in the 1st quarter worth approximately $37,000. Versant Capital Management Inc purchased a new stake in Wynn Resorts in the second quarter worth approximately $51,000. Covestor Ltd grew its position in Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after acquiring an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Wynn Resorts by 66.3% during the first quarter. GAMMA Investing LLC now owns 662 shares of the casino operator’s stock worth $68,000 after acquiring an additional 264 shares in the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by insiders.

Wynn Resorts Trading Up 1.0 %

Shares of Wynn Resorts stock opened at $100.24 on Thursday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The company has a market cap of $11.23 billion, a P/E ratio of 13.73, a PEG ratio of 2.68 and a beta of 1.81. The company’s fifty day simple moving average is $84.49 and its two-hundred day simple moving average is $89.35.

Wynn Resorts (NASDAQ:WYNN) last announced 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). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. Analysts predict that Wynn Resorts, Limited will post 5.44 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WYNN shares. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. reduced their price objective on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company lowered 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. Deutsche Bank Aktiengesellschaft reduced 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, Stifel Nicolaus lowered their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $115.20.

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.