8,647 Shares in Wynn Resorts, Limited $WYNN Purchased by AGP Franklin LLC

AGP Franklin LLC purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the first quarter, HoldingsChannel reports. The institutional investor purchased 8,647 shares of the casino operator’s stock, valued at approximately $878,000.

A number of other institutional investors also recently added to or reduced their stakes in WYNN. SG Americas Securities LLC grew its holdings in shares of Wynn Resorts by 2.5% in the 1st quarter. SG Americas Securities LLC now owns 84,890 shares of the casino operator’s stock worth $8,621,000 after purchasing an additional 2,031 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Wynn Resorts by 25.7% during the fourth quarter. Corient Private Wealth LLC now owns 6,321 shares of the casino operator’s stock worth $761,000 after buying an additional 1,292 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Wynn Resorts by 503.7% in the fourth quarter. Hsbc Holdings PLC now owns 122,533 shares of the casino operator’s stock valued at $14,768,000 after acquiring an additional 152,888 shares during the last quarter. AG Campbell Advisory LLC bought a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $2,130,000. Finally, SHP Wealth Management acquired a new position in shares of Wynn Resorts in the 4th quarter worth approximately $32,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WYNN. UBS Group reiterated a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. Susquehanna lowered their target price on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research note on Thursday, April 16th. Bank of America cut their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Wells Fargo & Company set a $142.00 price target on shares of Wynn Resorts and gave the stock an “overweight” rating in a research report on Sunday, May 10th. Finally, Citigroup decreased their price objective on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Wynn Resorts Stock Down 1.8%

WYNN stock opened at $103.62 on Tuesday. The company has a market cap of $10.75 billion, a P/E ratio of 30.93, a PEG ratio of 0.98 and a beta of 0.98. Wynn Resorts, Limited has a twelve month low of $87.36 and a twelve month high of $134.72. The business has a fifty day moving average of $103.33 and a 200-day moving average of $109.39.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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%.

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.