Beck Bode LLC Makes New $576,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Beck Bode LLC bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,437 shares of the casino operator’s stock, valued at approximately $576,000.

A number of other large investors have also recently made changes to their positions in the stock. Sei Investments Co. lifted its holdings in Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. bought a new position in shares of Wynn Resorts in the first quarter worth about $2,461,000. CIBC Private Wealth Group LLC bought a new position in shares of Wynn Resorts in the fourth quarter worth about $1,376,000. UniSuper Management Pty Ltd grew its holdings in Wynn Resorts by 540.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after acquiring an additional 8,590 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

WYNN stock opened at $80.00 on Wednesday. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 2.04 and a beta of 1.80. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company’s 50 day moving average price is $78.74 and its 200 day moving average price is $90.17.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. Equities analysts forecast that Wynn Resorts, Limited will post 5.44 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is currently 13.70%.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on WYNN shares. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Macquarie reaffirmed an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.73.

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.