Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 21.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,629 shares of the casino operator’s stock after buying an additional 2,088 shares during the period. J.W. Cole Advisors Inc.’s holdings in Wynn Resorts were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares in the last quarter. Fisher Asset Management LLC increased its position in Wynn Resorts by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator’s stock valued at $357,883,000 after buying an additional 16,799 shares in the last quarter. Norges Bank acquired a new position in Wynn Resorts during the 4th quarter valued at about $157,305,000. Janus Henderson Group PLC increased its position in 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 buying an additional 204,852 shares in the last quarter. Finally, Bamco Inc. NY increased its position in Wynn Resorts by 5.1% during the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after buying an additional 38,160 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Macquarie reaffirmed an “outperform” rating and set 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 report on Thursday, May 30th. JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley cut their price objective on Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Finally, Wells Fargo & Company cut their price objective on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Wynn Resorts Stock Up 2.9 %

Wynn Resorts stock opened at $78.46 on Monday. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.80. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The business’s 50-day moving average price is $78.87 and its 200 day moving average price is $90.36.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. Equities analysts expect that Wynn Resorts, Limited will post 5.55 EPS for the current 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 dividend on an annualized basis and a yield of 1.27%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Wynn Resorts Company 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.