Navalign LLC Boosts Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Navalign LLC lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 6.5% during the first quarter, Holdings Channel reports. The fund owned 9,366 shares of the casino operator’s stock after acquiring an additional 568 shares during the period. Navalign LLC’s holdings in Wynn Resorts were worth $957,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter worth about $27,000. Sunbelt Securities Inc. boosted its stake in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the period. GAMMA Investing LLC acquired a new stake in Wynn Resorts in the fourth quarter valued at about $38,000. Finally, Venturi Wealth Management LLC lifted its position in Wynn Resorts by 1,083.8% in the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock valued at $40,000 after purchasing an additional 401 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of research reports. Morgan Stanley lifted their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, May 23rd. Mizuho started coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price for the company. Citigroup boosted their price objective on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $121.31.

Read Our Latest Stock Analysis on Wynn Resorts

Insider Transactions at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is owned by insiders.

Wynn Resorts Stock Down 0.9 %

Wynn Resorts stock traded down $0.78 during mid-day trading on Monday, reaching $89.10. The company had a trading volume of 1,827,829 shares, compared to its average volume of 1,790,339. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $112.25. The company has a 50 day moving average of $94.67 and a 200-day moving average of $96.80. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 12.21 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $0.29 EPS. The business’s revenue was up 30.9% on a year-over-year basis. On average, analysts predict that Wynn Resorts, Limited will post 5.58 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s payout ratio is 13.70%.

About Wynn Resorts

(Free Report)

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.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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