Prasad Wealth Partners LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Prasad Wealth Partners LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,500 shares of the casino operator’s stock, valued at approximately $215,000.

Several other large investors also recently made changes to their positions in WYNN. IHT Wealth Management LLC lifted its holdings in Wynn Resorts by 1.7% in the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after purchasing an additional 112 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after buying an additional 119 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after buying an additional 133 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Wynn Resorts by 1.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock valued at $844,000 after buying an additional 176 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 0.7 %

Shares of NASDAQ WYNN opened at $90.15 on Tuesday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The business has a fifty day simple moving average of $85.32 and a 200 day simple moving average of $87.52. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s dividend payout ratio is 23.75%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WYNN. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley decreased their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. raised their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $119.58.

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.