Private Capital Advisors Inc. Takes $252,000 Position in Wynn Resorts, Limited $WYNN

Private Capital Advisors Inc. bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, Holdings Channel reports. The fund bought 2,688 shares of the casino operator’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new stake in Wynn Resorts in the first quarter worth $25,000. Dagco Inc. bought a new stake in Wynn Resorts in the first quarter worth $25,000. Geneos Wealth Management Inc. boosted its holdings in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Wynn Resorts in the second quarter worth $43,000. Finally, Mather Group LLC. boosted its holdings in Wynn Resorts by 32.7% in the first quarter. Mather Group LLC. now owns 896 shares of the casino operator’s stock worth $75,000 after acquiring an additional 221 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

WYNN stock opened at $121.13 on Wednesday. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The business’s 50-day moving average is $121.67 and its two-hundred day moving average is $102.72. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 6.26 and a beta of 1.31.

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

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued 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 dividend payout ratio is currently 30.03%.

Wall Street Analyst Weigh In

WYNN has been the topic of several analyst reports. Jefferies Financial Group boosted their target price on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, August 11th. JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $123.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Morgan Stanley boosted their target price on Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Barclays upped their price target on Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Citigroup reaffirmed a “neutral” rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $129.64.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% 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. Corporate insiders own 0.52% of the company’s stock.

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.