Fifth Third Bancorp Purchases 7,309 Shares of Wynn Resorts, Limited $WYNN

Fifth Third Bancorp grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 288.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,847 shares of the casino operator’s stock after purchasing an additional 7,309 shares during the period. Fifth Third Bancorp’s holdings in Wynn Resorts were worth $1,000,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Wynn Resorts by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares during the last quarter. Woodline Partners LP grew its position in Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in 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 buying an additional 156 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Wynn Resorts by 13.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock valued at $155,000 after buying an additional 201 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of Wynn Resorts by 9.5% during the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after buying an additional 868 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WYNN shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 target price on shares of Wynn Resorts in a research note on Friday, May 8th. Wells Fargo & Company dropped their price target on Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Barclays reduced their price objective on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, Zacks Research lowered Wynn Resorts from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.94.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $96.92 on Monday. Wynn Resorts, Limited has a 12 month low of $92.52 and a 12 month high of $134.72. The business’s 50 day simple moving average is $100.21 and its 200 day simple moving average is $104.86. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 0.95 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 29.85%.

Wynn Resorts 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.