Wedbush Securities Inc. Has $441,000 Position in Wynn Resorts, Limited (WYNN)

Wedbush Securities Inc. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,291 shares of the casino operator’s stock after buying an additional 73 shares during the period. Wedbush Securities Inc.’s holdings in Wynn Resorts, Limited were worth $441,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WYNN. Vanguard Group Inc. increased its position in shares of Wynn Resorts, Limited by 3.4% in the first quarter. Vanguard Group Inc. now owns 8,018,334 shares of the casino operator’s stock valued at $918,982,000 after buying an additional 263,601 shares during the last quarter. BlackRock Inc. increased its position in shares of Wynn Resorts, Limited by 5,076.4% in the first quarter. BlackRock Inc. now owns 4,945,920 shares of the casino operator’s stock valued at $566,852,000 after buying an additional 4,850,373 shares during the last quarter. State Street Corp increased its position in shares of Wynn Resorts, Limited by 0.8% in the first quarter. State Street Corp now owns 3,308,320 shares of the casino operator’s stock valued at $379,153,000 after buying an additional 26,867 shares during the last quarter. OZ Management LP increased its position in shares of Wynn Resorts, Limited by 24.8% in the first quarter. OZ Management LP now owns 2,132,012 shares of the casino operator’s stock valued at $244,350,000 after buying an additional 423,658 shares during the last quarter. Finally, Platinum Investment Management Ltd. increased its position in shares of Wynn Resorts, Limited by 0.7% in the first quarter. Platinum Investment Management Ltd. now owns 1,724,330 shares of the casino operator’s stock valued at $197,625,000 after buying an additional 11,600 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Shares of Wynn Resorts, Limited (NASDAQ WYNN) opened at 136.45 on Thursday. Wynn Resorts, Limited has a 52 week low of $82.51 and a 52 week high of $139.67. The company has a market cap of $13.91 billion, a P/E ratio of 51.07 and a beta of 1.72. The company’s 50-day moving average price is $131.67 and its 200 day moving average price is $119.75. Wynn Resorts, Limited also saw unusually large options trading on Tuesday. Stock investors purchased 13,518 put options on the company. This represents an increase of approximately 161% compared to the average volume of 5,177 put options.

Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, July 25th. The casino operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.47 billion. Wynn Resorts, Limited had a return on equity of 165.77% and a net margin of 5.02%. Wynn Resorts, Limited’s revenue for the quarter was up 44.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 earnings per share. Equities research analysts anticipate that Wynn Resorts, Limited will post $4.90 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Thursday, August 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.00 dividend on an annualized basis and a yield of 1.47%. Wynn Resorts, Limited’s dividend payout ratio is currently 74.91%.

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Several equities analysts have recently weighed in on WYNN shares. Barclays PLC upgraded Wynn Resorts, Limited from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $87.00 to $144.00 in a report on Friday, May 12th. Zacks Investment Research downgraded Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Vetr upgraded Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $140.28 price target for the company in a report on Thursday, June 29th. Sanford C. Bernstein restated an “outperform” rating on shares of Wynn Resorts, Limited in a report on Wednesday, July 12th. Finally, Telsey Advisory Group downgraded Wynn Resorts, Limited from an “outperform” rating to a “market perform” rating and set a $150.00 price target for the company. in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Wynn Resorts, Limited currently has a consensus rating of “Hold” and a consensus target price of $126.99.

In other Wynn Resorts, Limited news, Director Clark T. Jr. Randt sold 3,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $129.00, for a total transaction of $387,000.00. Following the completion of the transaction, the director now owns 7,711 shares of the company’s stock, valued at $994,719. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kimmarie Sinatra sold 22,624 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $129.12, for a total value of $2,921,210.88. Following the transaction, the executive vice president now directly owns 221,067 shares of the company’s stock, valued at approximately $28,544,171.04. The disclosure for this sale can be found here. Insiders have sold 69,933 shares of company stock worth $9,261,125 in the last quarter. 13.20% of the stock is currently owned by company insiders.

Wynn Resorts, Limited Company Profile

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Institutional Ownership by Quarter for Wynn Resorts, Limited (NASDAQ:WYNN)

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