HighTower Advisors LLC Has $963,000 Position in Wynn Resorts, Limited $WYNN

HighTower Advisors LLC lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 37.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,918 shares of the casino operator’s stock after selling 5,867 shares during the quarter. HighTower Advisors LLC’s holdings in Wynn Resorts were worth $963,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WYNN. Hantz Financial Services Inc. raised 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 worth $30,000 after purchasing an additional 89 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Wynn Resorts by 4.9% during the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock valued at $210,000 after purchasing an additional 96 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Wynn Resorts by 23.5% during the fourth quarter. Larson Financial Group LLC now owns 557 shares of the casino operator’s stock valued at $67,000 after purchasing an additional 106 shares in the last quarter. New York Life Investment Management LLC grew its stake in shares of Wynn Resorts by 1.0% in the 4th quarter. New York Life Investment Management LLC now owns 11,420 shares of the casino operator’s stock valued at $1,374,000 after purchasing an additional 110 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Wynn Resorts by 18.5% in the 1st quarter. Parallel Advisors LLC now owns 756 shares of the casino operator’s stock worth $77,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $87.76 on Tuesday. The business’s fifty day moving average is $97.05 and its two-hundred day moving average is $100.57. The firm has a market cap of $9.04 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.05 and a beta of 1.00. Wynn Resorts, Limited has a 52 week low of $86.80 and a 52 week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Wynn Resorts, Limited will post 4.55 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio (DPR) is presently 24.81%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WYNN. Wells Fargo & Company lowered their price target on Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Argus lifted their price objective on Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Barclays boosted their target price on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. UBS Group lowered their target price on shares of Wynn Resorts from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $128.00 target price on shares of Wynn Resorts in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $133.35.

About Wynn Resorts

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.