FNY Investment Advisers LLC Buys New Shares in Wynn Resorts, Limited $WYNN

FNY Investment Advisers LLC bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 9,035 shares of the casino operator’s stock, valued at approximately $846,000.

A number of other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its stake in shares of Wynn Resorts by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock valued at $1,167,000 after buying an additional 127 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Wynn Resorts by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock valued at $589,000 after buying an additional 132 shares in the last quarter. Navalign LLC lifted its stake in shares of Wynn Resorts by 1.8% during the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock valued at $689,000 after buying an additional 144 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. Finally, CX Institutional lifted its stake in shares of Wynn Resorts by 6.7% during the 2nd quarter. CX Institutional now owns 3,058 shares of the casino operator’s stock valued at $286,000 after buying an additional 192 shares in the last quarter. 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 business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director directly owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Stock Down 0.7%

Wynn Resorts stock opened at $121.13 on Wednesday. The company’s 50-day moving average price is $121.67 and its 200-day moving average price is $102.72. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23. The company has a market cap of $12.59 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 6.26 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal 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 issued a $0.25 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts’s payout ratio is 30.03%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 11th. Mizuho lifted their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a report on Tuesday, October 14th. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.64.

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.