Wynn Resorts Ltd. (WYNN) Position Raised by Weybosset Research & Management LLC
Weybosset Research & Management LLC raised its stake in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 17.6% during the second quarter, Holdings Channel reports. The firm owned 2,661 shares of the casino operator’s stock after buying an additional 399 shares during the period. Weybosset Research & Management LLC’s holdings in Wynn Resorts were worth $241,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Wynn Resorts during the fourth quarter valued at $38,032,000. Jericho Capital Asset Management L.P. purchased a new position in Wynn Resorts during the first quarter valued at $44,826,000. Nicholas Investment Partners LP purchased a new position in Wynn Resorts during the first quarter valued at $28,029,000. Euclid Advisors LLC boosted its position in Wynn Resorts by 7,331.2% in the first quarter. Euclid Advisors LLC now owns 286,846 shares of the casino operator’s stock valued at $26,800,000 after buying an additional 282,986 shares in the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in Wynn Resorts during the first quarter valued at $14,239,000. 74.48% of the stock is currently owned by institutional investors.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) traded up 1.728% on Wednesday, reaching $98.045. The company had a trading volume of 2,141,961 shares. The firm’s 50 day moving average is $98.44 and its 200 day moving average is $96.20. Wynn Resorts Ltd. has a 12 month low of $49.95 and a 12 month high of $109.50. The firm has a market capitalization of $9.95 billion, a PE ratio of 30.336 and a beta of 1.85.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.16. The company earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. On average, equities research analysts expect that Wynn Resorts Ltd. will post $3.81 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on WYNN shares. Deutsche Bank AG reiterated a “hold” rating on shares of Wynn Resorts in a report on Sunday, June 26th. Vetr upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 target price for the company in a report on Monday, August 1st. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Wynn Resorts in a report on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Wynn Resorts in a report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Monday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Wynn Resorts has an average rating of “Hold” and an average target price of $99.91.
Wynn Resorts Company Profile
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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