Crystal Rock Capital Management Buys New Shares in Wynn Resorts, Limited (NASDAQ:WYNN)

Crystal Rock Capital Management purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,500 shares of the casino operator’s stock, valued at approximately $719,000. Wynn Resorts comprises about 0.4% of Crystal Rock Capital Management’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds have also recently bought and sold shares of WYNN. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Wynn Resorts by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock valued at $18,098,000 after buying an additional 7,850 shares during the last quarter. Covestor Ltd raised its holdings in shares of Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after purchasing an additional 950 shares during the period. XML Financial LLC lifted its stake in Wynn Resorts by 5.9% in the 3rd quarter. XML Financial LLC now owns 7,228 shares of the casino operator’s stock valued at $693,000 after purchasing an additional 405 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Wynn Resorts by 1.9% during the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock worth $10,361,000 after purchasing an additional 2,001 shares during the period. Finally, Malaga Cove Capital LLC acquired a new position in Wynn Resorts during the third quarter worth approximately $466,000. 68.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Susquehanna boosted their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Up 2.6 %

WYNN stock opened at $86.48 on Tuesday. The company’s 50-day moving average price is $91.15 and its two-hundred day moving average price is $88.36. 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 $9.50 billion, a P/E ratio of 10.66, a P/E/G ratio of 2.41 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Equities analysts predict that Wynn Resorts, Limited will post 4.9 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.