Greenwich Wealth Management LLC Invests $30.09 Million in Wynn Resorts, Limited $WYNN

Greenwich Wealth Management LLC acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 250,055 shares of the casino operator’s stock, valued at approximately $30,089,000. Wynn Resorts makes up approximately 1.3% of Greenwich Wealth Management LLC’s portfolio, making the stock its 12th biggest holding. Greenwich Wealth Management LLC owned 0.24% of Wynn Resorts at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Capital World Investors boosted its stake in shares of Wynn Resorts by 0.7% during the 3rd quarter. Capital World Investors now owns 9,481,183 shares of the casino operator’s stock worth $1,216,151,000 after acquiring an additional 69,793 shares in the last quarter. Palidye Holdings Caymans Ltd bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $104,629,000. Raymond James Financial Inc. boosted its stake in shares of Wynn Resorts by 5.3% during the 3rd quarter. Raymond James Financial Inc. now owns 1,111,574 shares of the casino operator’s stock worth $142,582,000 after acquiring an additional 55,555 shares in the last quarter. Norges Bank bought a new stake in shares of Wynn Resorts during the 4th quarter worth $122,696,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Wynn Resorts during the 3rd quarter worth $110,213,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $104.62 on Wednesday. Wynn Resorts, Limited has a fifty-two week low of $82.63 and a fifty-two week high of $134.72. The stock’s 50-day moving average is $102.19 and its two-hundred day moving average is $111.43. The firm has a market cap of $10.86 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 0.98 and a beta of 0.98.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. On average, equities analysts expect that Wynn Resorts, Limited will post 4.68 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 29.85%.

Analyst Ratings Changes

Several analysts recently issued reports on WYNN shares. Stifel Nicolaus cut their price objective on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 13th. Wells Fargo & Company set a $142.00 target price on Wynn Resorts and gave the company an “overweight” rating in a report on Sunday, May 10th. Mizuho cut their target price on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. UBS Group restated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Finally, Jefferies Financial Group cut their target price on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.