Infrastructure Capital Advisors LLC Makes New $598,000 Investment in Wynn Resorts, Limited $WYNN

Infrastructure Capital Advisors LLC bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,155 shares of the casino operator’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also made changes to their positions in WYNN. Cibc World Market Inc. acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $1,646,000. Sanctuary Advisors LLC acquired a new position in Wynn Resorts during the second quarter worth approximately $621,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Wynn Resorts during the second quarter worth approximately $321,402,000. Bank of Nova Scotia purchased a new stake in Wynn Resorts in the second quarter valued at approximately $10,415,000. Finally, Commerce Bank purchased a new stake in Wynn Resorts in the second quarter valued at approximately $945,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

WYNN opened at $100.28 on Monday. Wynn Resorts, Limited has a 12 month low of $92.52 and a 12 month high of $134.72. The stock has a market capitalization of $10.33 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.88 and a beta of 1.01. The business has a 50 day simple moving average of $99.78 and a 200-day simple moving average of $102.95.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.Wynn Resorts’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. Research analysts anticipate that Wynn Resorts, Limited will post 4.63 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. Wynn Resorts’s payout ratio is presently 24.81%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research analyst reports. Bank of America decreased their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Truist Financial started coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Mizuho lowered their price objective on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Stifel Nicolaus set a $143.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $134.19.

About Wynn Resorts

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.