Sequoia Financial Advisors LLC Increases Holdings in Wynn Resorts, Limited $WYNN

Sequoia Financial Advisors LLC grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 46.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 770,178 shares of the casino operator’s stock after acquiring an additional 243,179 shares during the period. Sequoia Financial Advisors LLC’s holdings in Wynn Resorts were worth $92,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in Wynn Resorts during the second quarter valued at $25,000. Root Financial Partners LLC purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at about $26,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. Cromwell Holdings LLC lifted its holdings in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after buying an additional 103 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Wynn Resorts by 400.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Trading Up 1.3%

Shares of WYNN opened at $107.57 on Thursday. Wynn Resorts, Limited has a 12-month low of $82.20 and a 12-month high of $134.72. The firm has a market capitalization of $11.19 billion, a P/E ratio of 35.86, a P/E/G ratio of 5.89 and a beta of 1.01. The firm has a 50-day moving average price of $103.81 and a 200 day moving average price of $114.46.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the business earned $2.42 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Wynn Resorts, Limited will post 4.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Mizuho lifted their price target on Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Texas Capital raised shares of Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Susquehanna decreased their price target on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Jefferies Financial Group reduced their target price on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Wells Fargo & Company dropped their price target on Wynn Resorts from $147.00 to $144.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.64.

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.