Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by Virtu Financial LLC

Virtu Financial LLC lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 163.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 32,141 shares of the casino operator’s stock after purchasing an additional 19,931 shares during the period. Virtu Financial LLC’s holdings in Wynn Resorts were worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Principal Securities Inc. acquired a new stake in Wynn Resorts in the fourth quarter valued at $100,000. Avantax Advisory Services Inc. lifted its stake in shares of Wynn Resorts by 35.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,173 shares of the casino operator’s stock valued at $745,000 after purchasing an additional 2,127 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Wynn Resorts by 20.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 56,922 shares of the casino operator’s stock worth $5,186,000 after buying an additional 9,751 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in Wynn Resorts during the fourth quarter worth about $1,062,000. Finally, Norges Bank purchased a new position in Wynn Resorts in the fourth quarter valued at about $157,305,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

WYNN stock opened at $78.95 on Tuesday. The company has a 50 day moving average price of $78.74 and a two-hundred day moving average price of $90.17. The stock has a market capitalization of $8.76 billion, a P/E ratio of 10.82, a PEG ratio of 1.93 and a beta of 1.80. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm earned $0.91 EPS. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that Wynn Resorts, Limited will post 5.55 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WYNN. JPMorgan Chase & Co. reduced their price objective on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group cut their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Thursday, May 23rd. Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company 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.