UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 6,531 Shares of Wynn Resorts, Limited $WYNN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,904 shares of the casino operator’s stock after buying an additional 6,531 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of Wynn Resorts worth $16,593,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts in the second quarter worth approximately $25,000. Hantz Financial Services Inc. raised its holdings in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares during the last quarter. SHP Wealth Management acquired a new position in shares of Wynn Resorts in the 4th quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted 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 purchasing an additional 156 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $34,000. Institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup restated a “buy” rating on shares of Wynn Resorts in a report on Thursday, August 6th. The Goldman Sachs Group set a $120.00 price objective on Wynn Resorts in a research note on Wednesday, July 15th. Wolfe Research began coverage on Wynn Resorts in a research report on Wednesday. They set an “outperform” rating and a $128.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, Mizuho dropped their price target on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.82.

Wynn Resorts Stock Performance

WYNN stock opened at $91.54 on Friday. The stock’s 50 day simple moving average is $97.90 and its 200 day simple moving average is $101.64. The company has a market cap of $9.43 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00. Wynn Resorts, Limited has a fifty-two week low of $89.44 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts predict that Wynn Resorts, Limited will post 4.55 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio (DPR) is currently 24.81%.

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.