Wynn Resorts, Limited (NASDAQ:WYNN) Stock Position Boosted by Regal Partners Ltd

Regal Partners Ltd raised its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 724,700 shares of the casino operator’s stock after purchasing an additional 38,344 shares during the quarter. Wynn Resorts accounts for approximately 6.7% of Regal Partners Ltd’s portfolio, making the stock its 4th largest holding. Regal Partners Ltd owned about 0.65% of Wynn Resorts worth $64,861,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Verus Capital Partners LLC purchased a new position in Wynn Resorts in the 2nd quarter worth approximately $297,000. Summit Financial LLC purchased a new position in shares of Wynn Resorts in the second quarter valued at $203,000. nVerses Capital LLC grew its holdings in Wynn Resorts by 288.9% during the 2nd quarter. nVerses Capital LLC now owns 7,000 shares of the casino operator’s stock valued at $626,000 after purchasing an additional 5,200 shares in the last quarter. Van ECK Associates Corp increased its stake in Wynn Resorts by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 68,331 shares of the casino operator’s stock worth $6,116,000 after buying an additional 1,541 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Wynn Resorts by 6.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 31,472 shares of the casino operator’s stock valued at $2,817,000 after buying an additional 1,902 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Citigroup lifted their target price on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Morgan Stanley dropped their target price on Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Finally, Jefferies Financial Group decreased their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $116.73.

Wynn Resorts Stock Down 1.4 %

Shares of WYNN stock opened at $75.81 on Wednesday. The business has a 50 day moving average of $80.64 and a two-hundred day moving average of $91.85. The company has a market cap of $8.50 billion, a P/E ratio of 10.38, a PEG ratio of 1.72 and a beta of 1.82. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Analysts expect that Wynn Resorts, Limited will post 5.56 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.32%. Wynn Resorts’s payout ratio is 13.70%.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.