ProShare Advisors LLC Buys 6,815 Shares of Wynn Resorts, Limited $WYNN

ProShare Advisors LLC grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 52.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,732 shares of the casino operator’s stock after buying an additional 6,815 shares during the period. ProShare Advisors LLC’s holdings in Wynn Resorts were worth $1,567,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Wynn Resorts during the second quarter valued at approximately $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Wynn Resorts in the second quarter worth $321,402,000. State Street Corp lifted its position in Wynn Resorts by 2.6% in the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock worth $295,924,000 after purchasing an additional 77,416 shares during the period. Renaissance Technologies LLC boosted its stake in Wynn Resorts by 17.4% during the first quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator’s stock worth $125,918,000 after buying an additional 184,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Wynn Resorts during the second quarter worth $99,277,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Key Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn said its Al Marjan Island resort in the UAE remains on track for a September 2027 opening. Continued progress may support its longer-term growth outlook, though the project requires substantial additional equity funding. Article: Wynn outlines remaining Al Marjan equity
• Positive Sentiment: The company declared a quarterly cash dividend of $0.25 per share, payable November 30 to shareholders of record November 16. Article: Wynn Resorts declares quarterly cash dividend
• Neutral Sentiment: Several analysts lowered price targets after the results but maintained positive ratings. Deutsche Bank kept Buy at $116; Macquarie retained Outperform at $128; Barclays and Wells Fargo maintained Overweight at $120 and $122, respectively. Other target cuts included Jefferies to $132 and Mizuho to $129. The ratings remain supportive, but the reductions reflect a more cautious outlook. Article: Deutsche Bank adjusts Wynn Resorts price target
• Negative Sentiment: Third-quarter revenue fell 7.9% year over year to $1.69 billion, missing estimates, and EPS of $0.33 also came in below expectations and was down from $0.86 a year earlier. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results, with declines reported across all four operating segments. Article: Wynn Resorts Q3 earnings miss estimates
• Negative Sentiment: Wynn is maintaining its UAE opening timetable amid war-related uncertainty, while the project’s rising investment and remaining equity needs add funding and execution risk. Article: Wynn holds UAE casino date amid war

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of recent research reports. Truist Financial dropped their price objective on shares of Wynn Resorts from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Argus upped their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $93.00 price target on shares of Wynn Resorts in a research note on Friday. Citigroup decreased their price objective on Wynn Resorts from $135.00 to $103.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Finally, Wells Fargo & Company dropped their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.24.

Wynn Resorts Trading Up 4.8%

Shares of Wynn Resorts stock traded up $3.79 during mid-day trading on Friday, reaching $83.11. 5,045,645 shares of the stock were exchanged, compared to its average volume of 2,140,233. Wynn Resorts, Limited has a fifty-two week low of $70.79 and a fifty-two week high of $134.72. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The firm has a 50-day simple moving average of $80.68 and a 200 day simple moving average of $97.68.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, November 5th. The casino operator reported $0.33 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.19). Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. On average, research analysts predict that Wynn Resorts, Limited will post 4.26 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, November 16th. Wynn Resorts’s dividend payout ratio is presently 29.85%.

Wynn Resorts Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.