Northwestern Mutual Wealth Management Co. Makes New Investment in Wynn Resorts, Limited $WYNN

Northwestern Mutual Wealth Management Co. bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 11,483 shares of the casino operator’s stock, valued at approximately $1,115,000.

Other hedge funds have also recently made changes to their positions in the company. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts in the second quarter worth $25,000. Hantz Financial Services Inc. boosted its stake in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares during the period. SHP Wealth Management bought a new stake in Wynn Resorts during the fourth quarter valued at $32,000. Geneos Wealth Management Inc. grew its position in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Wynn Resorts in the 4th quarter worth about $34,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 0.7%

Shares of Wynn Resorts stock opened at $98.74 on Wednesday. Wynn Resorts, Limited has a 12-month low of $92.52 and a 12-month high of $134.72. The company has a market cap of $10.17 billion, a P/E ratio of 24.50, a PEG ratio of 0.88 and a beta of 1.01. The company’s fifty day simple moving average is $99.55 and its two-hundred day simple moving average is $102.77.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping the consensus estimate of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. Analysts predict that Wynn Resorts, Limited will post 4.63 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Wynn Resorts’s dividend payout ratio is presently 24.81%.

Analysts Set New Price Targets

Several analysts have weighed in on WYNN shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $128.00 price target on shares of Wynn Resorts in a report on Wednesday, July 22nd. JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Mizuho cut their price objective on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Truist Financial assumed coverage on Wynn Resorts in a research report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.19.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.