Captrust Financial Advisors Grows Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Captrust Financial Advisors raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 41.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,165 shares of the casino operator’s stock after buying an additional 1,215 shares during the quarter. Captrust Financial Advisors’ holdings in Wynn Resorts were worth $399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in Wynn Resorts by 26.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,632 shares of the casino operator’s stock worth $683,000 after purchasing an additional 1,581 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Wynn Resorts in the 2nd quarter valued at about $705,000. Assenagon Asset Management S.A. purchased a new position in Wynn Resorts during the 2nd quarter valued at about $7,133,000. Raymond James & Associates raised its position in Wynn Resorts by 3.5% during the second quarter. Raymond James & Associates now owns 105,845 shares of the casino operator’s stock worth $9,473,000 after acquiring an additional 3,579 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Wynn Resorts by 270.7% in the second quarter. First Horizon Advisors Inc. now owns 1,820 shares of the casino operator’s stock valued at $163,000 after purchasing an additional 1,329 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Up 1.1 %

Shares of Wynn Resorts stock opened at $94.53 on Friday. The business’s fifty day moving average price is $94.99 and its 200 day moving average price is $87.88. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a market capitalization of $10.38 billion, a P/E ratio of 11.66, a PEG ratio of 3.48 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 4.79 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WYNN. Macquarie restated an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Morgan Stanley boosted their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Susquehanna increased their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Barclays cut their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Company 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.