Wynn Resorts, Limited $WYNN Shares Bought by Lmcg Investments LLC

Lmcg Investments LLC raised its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 44.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,487 shares of the casino operator’s stock after buying an additional 15,822 shares during the period. Lmcg Investments LLC’s holdings in Wynn Resorts were worth $4,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Wynn Resorts by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after purchasing an additional 132 shares during the last quarter. Navalign LLC boosted its holdings in shares of Wynn Resorts by 1.8% during the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock worth $689,000 after purchasing an additional 144 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Wynn Resorts by 7.2% during the 1st quarter. Fifth Third Bancorp now owns 2,341 shares of the casino operator’s stock worth $195,000 after purchasing an additional 158 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its holdings in shares of Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director owned 3,066 shares of the company’s stock, valued at $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Stock Down 3.0%

Shares of NASDAQ WYNN opened at $119.89 on Friday. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 6.19 and a beta of 1.31. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.23. The business’s 50 day moving average is $120.33 and its two-hundred day moving average is $100.79.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 EPS. Analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts’s payout ratio is presently 30.03%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Macquarie boosted their target price on Wynn Resorts from $110.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Barclays lifted their price target on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research report on Saturday, September 27th. Finally, Morgan Stanley lifted their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.71.

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.