FNY Investment Advisers LLC Purchases New Shares in Wynn Resorts, Limited $WYNN

FNY Investment Advisers LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,035 shares of the casino operator’s stock, valued at approximately $846,000.

Other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC bought a new position in shares of Wynn Resorts in the 1st quarter worth approximately $49,476,000. Nuveen LLC bought a new position in shares of Wynn Resorts in the 1st quarter worth approximately $41,731,000. Regal Partners Ltd raised its position in shares of Wynn Resorts by 21.5% in the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock worth $91,147,000 after acquiring an additional 192,873 shares in the last quarter. Goodman Financial Corp bought a new position in shares of Wynn Resorts during the first quarter valued at approximately $13,357,000. Finally, Kodai Capital Management LP increased its stake in shares of Wynn Resorts by 174.5% during the first quarter. Kodai Capital Management LP now owns 239,031 shares of the casino operator’s stock valued at $19,959,000 after purchasing an additional 151,956 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on WYNN. Barclays raised their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Morgan Stanley raised their target price on shares of Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a research note on Tuesday, October 14th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Wednesday, September 3rd. Finally, Mizuho raised their target price on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $129.64.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the transaction, the director owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $121.13 on Wednesday. The company’s fifty day simple moving average is $121.67 and its 200-day simple moving average is $102.72. The stock has a market capitalization of $12.59 billion, a PE ratio of 36.38, a P/E/G ratio of 6.26 and a beta of 1.31. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.23.

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

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 30.03%.

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.