Deutsche Bank AG purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 273,958 shares of the casino operator’s stock, valued at approximately $26,599,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $25,000. Hantz Financial Services Inc. lifted its stake in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the period. SHP Wealth Management purchased a new stake in Wynn Resorts during the fourth quarter worth about $32,000. Geneos Wealth Management Inc. raised its holdings in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Wynn Resorts during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on WYNN. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. Citigroup restated a “buy” rating on shares of Wynn Resorts in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Zacks Research raised Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Truist Financial initiated coverage on Wynn Resorts in a research note on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $134.19.
Wynn Resorts Price Performance
Wynn Resorts stock opened at $100.28 on Friday. The firm’s 50 day simple moving average is $99.78 and its 200-day simple moving average is $102.99. The company has a market cap of $10.33 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.01. Wynn Resorts, Limited has a fifty-two week low of $92.52 and a fifty-two week high of $134.72.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.Wynn Resorts’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, analysts expect that Wynn Resorts, Limited will post 4.63 EPS for the current fiscal year.
Wynn Resorts Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s payout ratio is presently 24.81%.
Wynn Resorts Profile
Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.
Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.
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