Miracle Mile Advisors LLC Has $234,000 Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Miracle Mile Advisors LLC decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 22.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,713 shares of the casino operator’s stock after selling 787 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Wynn Resorts were worth $234,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Wynn Resorts in the third quarter worth approximately $31,000. Blue Trust Inc. lifted its stake in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the last quarter. Allworth Financial LP lifted its stake in shares of 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 purchasing an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Wynn Resorts by 703.1% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after purchasing an additional 900 shares in the last quarter. Finally, Covestor Ltd increased its position in Wynn Resorts by 207.4% during the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock worth $135,000 after buying an additional 950 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays decreased their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Macquarie reiterated an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a report 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.36.

Wynn Resorts Trading Up 0.1 %

Shares of WYNN stock opened at $82.50 on Friday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market capitalization of $9.06 billion, a P/E ratio of 10.17, a P/E/G ratio of 2.40 and a beta of 1.77. The stock has a 50 day moving average of $89.05 and a two-hundred day moving average of $87.00.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate 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 period last year, the business earned $0.99 earnings per share. Sell-side analysts predict that Wynn Resorts, Limited will post 4.73 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Wynn Resorts’s payout ratio is currently 12.33%.

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.