61,436 Shares in Wynn Resorts, Limited $WYNN Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 61,436 shares of the casino operator’s stock, valued at approximately $5,965,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Wynn Resorts in the 2nd quarter valued at about $609,566,000. Sequoia Financial Advisors LLC lifted its stake in Wynn Resorts by 46.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock worth $92,676,000 after purchasing an additional 243,179 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Wynn Resorts during the second quarter worth approximately $1,053,000. Pacer Advisors Inc. boosted its holdings in Wynn Resorts by 97.5% in the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock valued at $2,697,000 after purchasing an additional 11,067 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Wynn Resorts in the second quarter valued at approximately $321,402,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 4.2%

Wynn Resorts stock opened at $91.28 on Tuesday. The stock has a 50 day moving average of $98.75 and a two-hundred day moving average of $102.15. Wynn Resorts, Limited has a twelve month low of $90.87 and a twelve month high of $134.72. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.83 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) 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 business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts predict that Wynn Resorts, Limited will post 4.65 earnings per share for the current year.

Wynn Resorts Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on WYNN. Truist Financial started coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective on the stock. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th. Barclays raised their price objective on Wynn Resorts from $134.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. 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, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.19.

About Wynn Resorts

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.