Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,811 shares of the casino operator’s stock after acquiring an additional 589 shares during the period. Exchange Traded Concepts LLC’s holdings in Wynn Resorts were worth $1,190,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WYNN. Wells Fargo & Company reduced their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley increased their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Barclays cut their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Macquarie reissued an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Susquehanna increased their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.23.

Wynn Resorts Stock Down 0.3 %

WYNN opened at $84.77 on Tuesday. The firm has a market capitalization of $9.31 billion, a P/E ratio of 10.45, a P/E/G ratio of 2.52 and a beta of 1.77. The firm’s 50 day moving average is $88.54 and its 200-day moving average is $86.94. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced 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). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. Equities analysts expect that Wynn Resorts, Limited will post 4.75 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

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.