Quadrant Private Wealth Management LLC Grows Position in Wynn Resorts, Limited $WYNN

Quadrant Private Wealth Management LLC grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,895 shares of the casino operator’s stock after acquiring an additional 966 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Wynn Resorts were worth $1,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Resolute Capital Asset Partners LLC bought a new stake in Wynn Resorts during the first quarter valued at approximately $3,758,000. Oak Harvest Investment Services increased its position in shares of Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator’s stock valued at $2,677,000 after purchasing an additional 5,511 shares during the last quarter. Strs Ohio bought a new position in Wynn Resorts during the first quarter valued at approximately $7,515,000. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Wynn Resorts by 116.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,564 shares of the casino operator’s stock worth $1,209,000 after acquiring an additional 7,820 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Wynn Resorts during the first quarter worth approximately $365,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director owned 3,066 shares of the company’s stock, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by insiders.

Wynn Resorts Trading Up 2.9%

Wynn Resorts stock opened at $126.14 on Friday. The firm has a market cap of $13.12 billion, a P/E ratio of 37.88, a P/E/G ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.23. The firm has a 50-day moving average of $123.52 and a 200-day moving average of $107.26.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company earned $0.90 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts forecast 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 will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, November 17th. Wynn Resorts’s dividend payout ratio is currently 30.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WYNN. Barclays upped their price objective on shares of Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group boosted their price target on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Wednesday, September 3rd. UBS Group upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $101.00 to $147.00 in a report on Thursday, August 28th. Finally, Zacks Research raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $132.58.

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.