Lazari Capital Management Inc. Purchases 23,391 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Lazari Capital Management Inc. grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 182.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,187 shares of the casino operator’s stock after buying an additional 23,391 shares during the period. Wynn Resorts makes up 1.5% of Lazari Capital Management Inc.’s holdings, making the stock its 13th biggest position. Lazari Capital Management Inc.’s holdings in Wynn Resorts were worth $3,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sei Investments Co. grew its position in Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after buying an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. acquired a new stake in shares of Wynn Resorts during the 1st quarter worth $2,461,000. UniSuper Management Pty Ltd increased its position in shares of Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after purchasing an additional 8,590 shares during the period. Vanguard Group Inc. increased its position in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the period. Finally, OPTIMAS CAPITAL Ltd acquired a new position in Wynn Resorts in the first quarter valued at about $3,394,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Trading Up 1.0 %

Shares of WYNN stock opened at $99.40 on Wednesday. The business’s 50-day moving average price is $86.41 and its 200-day moving average price is $89.02. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.57 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last posted its 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). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Wynn Resorts’s payout ratio is 13.70%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WYNN. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus reduced their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Barclays raised their target price on Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.87.

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.