Northwestern Mutual Wealth Management Co. Buys 10,145 Shares of Wynn Resorts, Limited $WYNN

Northwestern Mutual Wealth Management Co. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 758.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,483 shares of the casino operator’s stock after acquiring an additional 10,145 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Wynn Resorts were worth $1,115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WYNN. Penn Capital Management Company LLC bought a new position in shares of Wynn Resorts during the 2nd quarter worth about $1,752,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Wynn Resorts by 4.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,904 shares of the casino operator’s stock valued at $16,593,000 after buying an additional 6,531 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Wynn Resorts by 16.5% during the 2nd quarter. New Mexico Educational Retirement Board now owns 4,244 shares of the casino operator’s stock worth $412,000 after buying an additional 600 shares during the period. Mufg Securities Americas Inc. raised its stake in Wynn Resorts by 8.1% during the 2nd quarter. Mufg Securities Americas Inc. now owns 2,526 shares of the casino operator’s stock worth $245,000 after buying an additional 190 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new position in Wynn Resorts in the second quarter worth approximately $1,448,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Performance

WYNN opened at $91.54 on Friday. The firm has a market cap of $9.43 billion, a P/E ratio of 22.71, a PEG ratio of 1.10 and a beta of 1.00. The firm has a 50-day moving average of $97.90 and a 200 day moving average of $101.64. Wynn Resorts, Limited has a fifty-two week low of $89.44 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts predict that Wynn Resorts, Limited will post 4.55 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts’s dividend payout ratio is 24.81%.

Analysts Set New Price Targets

Several research firms have recently commented on WYNN. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group set a $120.00 price target on shares of Wynn Resorts in a research report on Wednesday, July 15th. Truist Financial began coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective on the stock. Citigroup reiterated a “buy” rating on shares of Wynn Resorts in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned 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 target price of $133.82.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.