Prospera Financial Services Inc Has $702,000 Position in Wynn Resorts, Limited $WYNN

Prospera Financial Services Inc lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 120.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,490 shares of the casino operator’s stock after acquiring an additional 4,090 shares during the period. Prospera Financial Services Inc’s holdings in Wynn Resorts were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Dagco Inc. acquired a new position in Wynn Resorts during the first quarter valued at approximately $25,000. AlphaQuest LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth $25,000. Geneos Wealth Management Inc. lifted 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 worth $32,000 after buying an additional 156 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $43,000. Finally, First Horizon Advisors Inc. boosted its stake in Wynn Resorts by 30.9% in the second quarter. First Horizon Advisors Inc. now owns 640 shares of the casino operator’s stock valued at $60,000 after buying an additional 151 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $123.01 on Friday. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The company has a market cap of $12.79 billion, a PE ratio of 36.94, a P/E/G ratio of 4.94 and a beta of 1.32. The firm’s 50 day simple moving average is $123.57 and its 200 day simple moving average is $108.53.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. Equities research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s payout ratio is presently 22.37%.

Analysts Set New Price Targets

WYNN has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, November 5th. Mizuho raised their target price on shares of Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group increased their price target on Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

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.