J.W. Cole Advisors Inc. Increases Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

J.W. Cole Advisors Inc. lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 21.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,629 shares of the casino operator’s stock after purchasing an additional 2,088 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Wynn Resorts were worth $1,041,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Wynn Resorts by 2,800.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 117,381 shares of the casino operator’s stock worth $10,506,000 after purchasing an additional 113,334 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Wynn Resorts by 483.6% in the 2nd quarter. Federated Hermes Inc. now owns 15,500 shares of the casino operator’s stock worth $1,387,000 after purchasing an additional 12,844 shares during the period. Qsemble Capital Management LP boosted its holdings in shares of Wynn Resorts by 640.5% in the 2nd quarter. Qsemble Capital Management LP now owns 17,498 shares of the casino operator’s stock worth $1,566,000 after purchasing an additional 15,135 shares during the period. AdvisorShares Investments LLC purchased a new position in shares of Wynn Resorts in the 2nd quarter worth approximately $411,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Wynn Resorts in the 2nd quarter worth approximately $1,718,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Trading Up 2.9 %

Shares of WYNN stock opened at $78.46 on Monday. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.93 and a beta of 1.80. The stock has a fifty day simple moving average of $78.87 and a two-hundred day simple moving average of $90.36.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Research analysts predict that Wynn Resorts, Limited will post 5.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is currently 13.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WYNN shares. Macquarie reissued an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their price target on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their price target on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.73.

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.