Sequoia Financial Advisors LLC Acquires 147 Shares of Wynn Resorts, Limited $WYNN

Sequoia Financial Advisors LLC lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 0.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 525,500 shares of the casino operator’s stock after acquiring an additional 147 shares during the period. Sequoia Financial Advisors LLC’s holdings in Wynn Resorts were worth $49,224,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Regal Partners Ltd lifted its holdings in shares of Wynn Resorts by 21.5% during the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock worth $91,147,000 after acquiring an additional 192,873 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator’s stock valued at $82,834,000 after acquiring an additional 111,428 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Wynn Resorts by 53.4% during the second quarter. DAVENPORT & Co LLC now owns 913,086 shares of the casino operator’s stock valued at $85,895,000 after acquiring an additional 317,850 shares during the period. Nuveen LLC bought a new position in shares of Wynn Resorts during the first quarter valued at $41,731,000. Finally, Long Focus Capital Management LLC lifted its holdings in shares of Wynn Resorts by 84.0% during the first quarter. Long Focus Capital Management LLC now owns 300,000 shares of the casino operator’s stock valued at $25,050,000 after acquiring an additional 137,000 shares during the period. 88.64% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

WYNN opened at $119.89 on Monday. The firm’s fifty day moving average is $120.33 and its two-hundred day moving average is $100.99. The firm has a market cap of $12.47 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 6.00 and a beta of 1.31. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.25 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s payout ratio is currently 30.03%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho lifted their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Citigroup reaffirmed a “neutral” rating and issued a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. The Goldman Sachs Group lifted their price target on Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Macquarie lifted their price target on Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Morgan Stanley boosted their price objective on Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $127.71.

About Wynn Resorts

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.