Oak Harvest Investment Services Makes New $2.29 Million Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Oak Harvest Investment Services bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,547 shares of the casino operator’s stock, valued at approximately $2,287,000.

A number of other institutional investors have also recently bought and sold shares of WYNN. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts during the 3rd quarter worth approximately $31,000. Blue Trust Inc. boosted its holdings in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Allworth Financial LP increased its stake in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after purchasing an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Wynn Resorts by 703.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after buying an additional 900 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Wynn Resorts by 207.4% during the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock worth $135,000 after buying an additional 950 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $89.60 on Friday. The business’s fifty day moving average price is $88.21 and its 200-day moving average price is $86.93. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The stock has a market capitalization of $9.84 billion, a PE ratio of 11.05, a P/E/G ratio of 2.42 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Wynn Resorts, Limited will post 4.69 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.23.

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.