Leith Wheeler Investment Counsel Ltd. Purchases New Position in Wynn Resorts, Limited $WYNN

Leith Wheeler Investment Counsel Ltd. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 149,902 shares of the casino operator’s stock, valued at approximately $15,223,000. Wynn Resorts makes up 1.3% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 22nd largest position.

Several other large investors also recently added to or reduced their stakes in WYNN. Egerton Capital UK LLP bought a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $249,053,000. Palidye Holdings Caymans Ltd bought a new position in shares of Wynn Resorts during the 2nd quarter valued at approximately $104,629,000. Norges Bank bought a new position in shares of Wynn Resorts during the 4th quarter valued at approximately $122,696,000. Zurich Insurance Group Ltd FI purchased a new stake in Wynn Resorts during the 3rd quarter valued at $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Wynn Resorts by 9.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after buying an additional 320,502 shares during the period. 88.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WYNN has been the subject of several recent analyst reports. Zacks Research lowered shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Mizuho reduced their target price on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Truist Financial began coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. Morgan Stanley cut their price target on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, The Goldman Sachs Group set a $120.00 price objective on shares of Wynn Resorts in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Wynn Resorts Stock Down 1.0%

Shares of Wynn Resorts stock opened at $95.66 on Tuesday. The stock’s fifty day moving average is $100.25 and its two-hundred day moving average is $105.57. The company has a market capitalization of $9.93 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. Wynn Resorts, Limited has a 52 week low of $93.15 and a 52 week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 earnings per share. As a group, research analysts anticipate that Wynn Resorts, Limited will post 4.53 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 29.85%.

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.