DAVENPORT & Co LLC Increases Stock Holdings in Wynn Resorts, Limited $WYNN

DAVENPORT & Co LLC increased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 53.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 913,086 shares of the casino operator’s stock after acquiring an additional 317,850 shares during the quarter. DAVENPORT & Co LLC’s holdings in Wynn Resorts were worth $85,895,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new stake in Wynn Resorts in the first quarter worth $25,000. Dagco Inc. purchased a new stake in Wynn Resorts in the first quarter worth $25,000. Global X Japan Co. Ltd. lifted its stake in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after acquiring an additional 175 shares during the period. Geneos Wealth Management Inc. lifted its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock worth $35,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on WYNN shares. Citigroup reissued a “neutral” rating and set a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Morgan Stanley raised their price objective on Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research report on Saturday, September 27th. Jefferies Financial Group raised their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Finally, Stifel Nicolaus raised their price objective on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and two have assigned 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 price target of $127.33.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $123.66 on Monday. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The stock has a 50-day moving average of $119.03 and a 200 day moving average of $99.68. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 6.19 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. On average, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts’s dividend payout ratio (DPR) is presently 30.03%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

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.