Catalyst Funds Management Pty Ltd Purchases Shares of 5,550 Wynn Resorts, Limited $WYNN

Catalyst Funds Management Pty Ltd acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 5,550 shares of the casino operator’s stock, valued at approximately $520,000.

Several other hedge funds also recently modified their holdings of WYNN. AlphaQuest LLC acquired a new position in shares of Wynn Resorts during the 1st quarter valued at $25,000. Dagco Inc. bought a new stake in Wynn Resorts in the first quarter valued at $25,000. MTM Investment Management LLC acquired a new position in shares of Wynn Resorts during the second quarter valued at about $31,000. Geneos Wealth Management Inc. boosted 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 purchasing an additional 156 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $43,000. Institutional investors own 88.64% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Down 1.0%

WYNN stock opened at $117.14 on Friday. The firm has a market capitalization of $12.18 billion, a PE ratio of 35.18, a P/E/G ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23. The stock’s 50 day moving average is $123.23 and its 200-day moving average is $109.84.

Wynn Resorts (NASDAQ:WYNN) last announced 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). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company posted $0.90 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Analyst Ratings Changes

A number of brokerages recently commented on WYNN. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Wednesday, September 3rd. Barclays raised their price objective on Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Mizuho upped their target price on Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Wells Fargo & Company initiated coverage on Wynn Resorts in a report on Tuesday. They issued an “overweight” rating and a $151.00 target price on the stock. Finally, Macquarie boosted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $134.38.

Wynn Resorts Company 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.