Covestor Ltd Boosts Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Covestor Ltd boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 421.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 626 shares of the casino operator’s stock after purchasing an additional 506 shares during the quarter. Covestor Ltd’s holdings in Wynn Resorts were worth $64,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Wynn Resorts by 61.5% in the 4th quarter. SG Americas Securities LLC now owns 8,118 shares of the casino operator’s stock worth $740,000 after acquiring an additional 3,091 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Wynn Resorts by 9.4% during the fourth quarter. Raymond James & Associates now owns 102,863 shares of the casino operator’s stock valued at $9,372,000 after purchasing an additional 8,802 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Wynn Resorts by 38.9% during the fourth quarter. Pacer Advisors Inc. now owns 12,320 shares of the casino operator’s stock valued at $1,122,000 after buying an additional 3,451 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Wynn Resorts in the 4th quarter worth about $10,228,000. Finally, Blue Trust Inc. raised its position in Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after buying an additional 270 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WYNN. Jefferies Financial Group dropped their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Citigroup increased their price target on Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Mizuho initiated coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Stifel Nicolaus increased their target price on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Barclays upped their price target on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.53.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Trading Down 2.8 %

NASDAQ:WYNN opened at $80.97 on Thursday. The stock has a 50-day moving average price of $89.66 and a 200 day moving average price of $96.07. The stock has a market capitalization of $9.07 billion, a P/E ratio of 11.09 and a beta of 1.82. Wynn Resorts, Limited has a 12-month low of $80.66 and a 12-month high of $111.09.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, research analysts predict that Wynn Resorts, Limited will post 5.62 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, May 31st. Stockholders of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Wynn Resorts’s payout ratio is 13.70%.

Wynn Resorts 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.