Man Group plc Invests $1.44 Million in Wynn Resorts, Limited $WYNN

Man Group plc bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, HoldingsChannel reports. The firm bought 14,862 shares of the casino operator’s stock, valued at approximately $1,443,000.

Several other institutional investors and hedge funds have also bought and sold shares of WYNN. MUFG Securities EMEA plc acquired a new position in Wynn Resorts during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. increased its position in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares during the last quarter. SHP Wealth Management bought a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its stake 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, International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $34,000. Institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup restated a “buy” rating on shares of Wynn Resorts in a report on Thursday, August 6th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.82.

Wynn Resorts Trading Up 1.0%

WYNN stock opened at $91.52 on Thursday. Wynn Resorts, Limited has a 1-year low of $89.44 and a 1-year high of $134.72. The business’s 50 day simple moving average is $98.24 and its 200 day simple moving average is $101.86. The firm has a market capitalization of $9.42 billion, a PE ratio of 22.71, a PEG ratio of 1.09 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 4.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Wynn Resorts Company Profile

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.