Glenview Trust Co Purchases New Shares in Wynn Resorts, Limited $WYNN

Glenview Trust Co purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,816 shares of the casino operator’s stock, valued at approximately $1,730,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. raised its stake in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Wynn Resorts during the 2nd quarter worth approximately $25,000. SHP Wealth Management acquired a new position in Wynn Resorts in the fourth quarter valued at $32,000. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts during the 4th quarter valued at about $34,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Trading Up 1.8%

NASDAQ:WYNN opened at $95.26 on Friday. Wynn Resorts, Limited has a 12 month low of $92.52 and a 12 month high of $134.72. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 0.82 and a beta of 1.01. The company has a 50-day moving average price of $99.00 and a 200-day moving average price of $102.44.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Equities analysts forecast that Wynn Resorts, Limited will post 4.65 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 24.81%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WYNN shares. JPMorgan Chase & Co. cut their price target on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Zacks Research upgraded Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price objective on shares of Wynn Resorts in a report on Friday, May 8th. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Finally, Truist Financial began coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $134.19.

Wynn Resorts Company 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.