Sequoia Financial Advisors LLC Grows Stock Position in Wynn Resorts, Limited $WYNN

Sequoia Financial Advisors LLC boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.9% during the first quarter, HoldingsChannel reports. The fund owned 815,698 shares of the casino operator’s stock after buying an additional 45,520 shares during the period. Sequoia Financial Advisors LLC’s holdings in Wynn Resorts were worth $82,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its position in Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts in the second quarter valued at $25,000. SHP Wealth Management purchased a new position in Wynn Resorts in the fourth quarter valued at $32,000. Finally, International Assets Investment Management LLC acquired a new position in Wynn Resorts during the 4th quarter worth $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Up 1.0%

NASDAQ:WYNN traded up $0.94 during trading hours on Friday, reaching $99.77. 1,326,350 shares of the company’s stock were exchanged, compared to its average volume of 1,364,643. Wynn Resorts, Limited has a 1-year low of $93.15 and a 1-year high of $134.72. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 0.92 and a beta of 0.99. The company has a 50-day moving average of $101.23 and a 200 day moving average of $106.83.

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

Wynn Resorts Dividend Announcement

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%.

More Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Barclays maintained an overweight rating on Wynn Resorts and set a new $134 price target, implying meaningful upside from current levels. Wynn Resorts (NASDAQ:WYNN) Given New $134.00 Price Target at Barclays
• Positive Sentiment: Brokerage coverage still points to a “Moderate Buy” consensus, suggesting analysts remain broadly constructive on Wynn Resorts. Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Positive Sentiment: A Trefis article argues that casino operators with stronger profitability can look undervalued relative to peers, which may support the investment case for Wynn Resorts if investors focus on fundamentals. Same Price, Much Better Business: The LVS Gap
• Neutral Sentiment: Short-interest data showed 0 shares reported as short, making the update difficult to interpret as a real change in trading sentiment.
• Neutral Sentiment: Additional media coverage around Wynn properties and regional development is mostly promotional or informational, with limited direct impact on the stock.
• Negative Sentiment: Barclays did trim its price target from $139 to $134, which may signal slightly less bullish expectations even though the firm remains positive on the shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WYNN. JPMorgan Chase & Co. cut their target price on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Morgan Stanley decreased their price target on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Jefferies Financial Group dropped their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Barclays cut their target price on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.75.

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.