Inceptionr LLC Cuts Position in Wynn Resorts, Limited $WYNN

Inceptionr LLC lessened its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 67.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,409 shares of the casino operator’s stock after selling 5,059 shares during the quarter. Inceptionr LLC’s holdings in Wynn Resorts were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 increased its position in shares of Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after purchasing an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Wynn Resorts by 69.0% during 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. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Wynn Resorts by 13.8% during 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 in the last quarter. Finally, Guggenheim Capital LLC raised its holdings 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 valued at $937,000 after buying an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 0.7%

Wynn Resorts stock opened at $99.02 on Wednesday. The firm has a market cap of $10.28 billion, a P/E ratio of 29.56, a P/E/G ratio of 0.98 and a beta of 0.99. Wynn Resorts, Limited has a 1-year low of $92.52 and a 1-year high of $134.72. The firm has a 50-day moving average of $100.38 and a 200-day moving average of $104.59.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly 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 negative return on equity of 42.03% and a net margin of 5.14%.Wynn Resorts’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group set a $120.00 target price on Wynn Resorts in a research note on Wednesday, July 15th. Jefferies Financial Group decreased their price target on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. lowered their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Truist Financial initiated coverage on shares of Wynn Resorts in a research note on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Bank of America reduced their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.44.

More Wynn Resorts News

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

• Positive Sentiment: Wynn Resorts and Marjan have broken ground on Wynn Al Marjan Island in Ras Al Khaimah, advancing the company’s first integrated resort in the UAE. The project could provide a long-term growth opportunity through geographic diversification and exposure to the developing Middle Eastern gaming and tourism market. Marjan and Wynn Resorts break ground on Janu Al Marjan Island
• Positive Sentiment: Mizuho lowered its Wynn Resorts price target from $133 to $125 but maintained an Outperform rating. The revised target still implies substantial upside, suggesting the analyst believes the recent pullback has created an attractive entry point despite more cautious estimates. Mizuho lowers Wynn Resorts price target
• Neutral Sentiment: The Neon Museum will host an October event featuring former Wynn Resorts chairman Steve Wynn discussing how The Mirage changed Las Vegas. The event may generate publicity around Wynn’s Las Vegas legacy, but it is not expected to have a meaningful direct financial effect on Wynn Resorts. The Neon Museum to present Reflections of the Mirage
• Negative Sentiment: Analysts expect Wynn Resorts to report a year-over-year earnings decline in its upcoming results. Zacks says the company lacks the typical combination of positive earnings revisions and estimate momentum associated with a likely earnings beat, increasing the risk of disappointing guidance or results. Analysts estimate Wynn Resorts to report a decline in earnings

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.