Future Fund LLC Raises Stock Position in Wynn Resorts, Limited $WYNN

Future Fund LLC lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 42.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,329 shares of the casino operator’s stock after buying an additional 6,607 shares during the quarter. Wynn Resorts comprises about 0.9% of Future Fund LLC’s holdings, making the stock its 28th biggest holding. Future Fund LLC’s holdings in Wynn Resorts were worth $2,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Capital World Investors lifted its position in shares of Wynn Resorts by 0.7% during the 3rd quarter. Capital World Investors now owns 9,481,183 shares of the casino operator’s stock worth $1,216,151,000 after buying an additional 69,793 shares during the last quarter. Palidye Holdings Caymans Ltd purchased a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $104,629,000. Raymond James Financial Inc. lifted its position in shares of Wynn Resorts by 5.3% during the 3rd quarter. Raymond James Financial Inc. now owns 1,111,574 shares of the casino operator’s stock worth $142,582,000 after buying an additional 55,555 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Wynn Resorts by 19.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator’s stock worth $114,374,000 after buying an additional 142,892 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Wynn Resorts during the 3rd quarter worth approximately $110,213,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $101.22 on Friday. The stock has a market cap of $10.51 billion, a P/E ratio of 30.22, a P/E/G ratio of 0.93 and a beta of 1.01. The firm has a fifty day moving average price of $102.12 and a 200 day moving average price of $111.69. Wynn Resorts, Limited has a 1-year low of $82.63 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. Wynn Resorts’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. Sell-side analysts expect that Wynn Resorts, Limited will post 4.68 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s payout ratio is currently 29.85%.

Analyst Ratings Changes

Several brokerages have recently weighed in on WYNN. UBS Group restated a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. Stifel Nicolaus cut their target price on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. Bank of America decreased their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

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.