Lmcg Investments LLC Boosts Stock Holdings in Wynn Resorts, Limited $WYNN

Lmcg Investments LLC lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 44.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,487 shares of the casino operator’s stock after acquiring an additional 15,822 shares during the quarter. Lmcg Investments LLC’s holdings in Wynn Resorts were worth $4,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of WYNN. DAVENPORT & Co LLC purchased a new stake in shares of Wynn Resorts during the first quarter worth $49,476,000. Nuveen LLC purchased a new stake in shares of Wynn Resorts during the first quarter worth $41,731,000. Assenagon Asset Management S.A. increased its holdings in Wynn Resorts by 758.8% in the first quarter. Assenagon Asset Management S.A. now owns 386,721 shares of the casino operator’s stock valued at $32,291,000 after buying an additional 341,688 shares during the last quarter. Regal Partners Ltd increased its holdings in Wynn Resorts by 21.5% in the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock valued at $91,147,000 after buying an additional 192,873 shares during the last quarter. Finally, Goodman Financial Corp purchased a new position in Wynn Resorts in the first quarter valued at $13,357,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director owned 3,066 shares in the company, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on WYNN shares. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Wednesday, September 3rd. Macquarie increased their target price on Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Morgan Stanley increased their target price on Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Citigroup reissued a “neutral” rating and issued a $114.00 target price (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Finally, UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and increased their target price for the company from $101.00 to $147.00 in a report on Thursday, August 28th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $127.71.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $119.89 on Friday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.23. The company has a market capitalization of $12.47 billion, a PE ratio of 36.00, a P/E/G ratio of 6.19 and a beta of 1.31. The company has a fifty day moving average of $120.33 and a two-hundred day moving average of $100.79.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company posted $1.12 EPS. Wynn Resorts’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio is 30.03%.

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.