Covestor Ltd Buys 950 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Covestor Ltd raised its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 207.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,408 shares of the casino operator’s stock after buying an additional 950 shares during the period. Covestor Ltd’s holdings in Wynn Resorts were worth $135,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts in the second quarter valued at about $25,000. Blue Trust Inc. lifted its holdings in Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the second quarter valued at approximately $51,000. GAMMA Investing LLC grew its holdings in shares of Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after purchasing an additional 166 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares during the period. 68.87% of the stock is owned by institutional investors.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $86.48 on Tuesday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The stock has a 50-day moving average of $91.15 and a 200 day moving average of $88.36. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 2.41 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $0.99 earnings per share. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that Wynn Resorts, Limited will post 4.9 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on WYNN. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Susquehanna increased their price target on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Morgan Stanley boosted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company reduced their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.71.

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.