Cookson Peirce & Co. Inc. Has $5.68 Million Position in Wynn Resorts, Limited $WYNN

Cookson Peirce & Co. Inc. raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,459 shares of the casino operator’s stock after buying an additional 7,970 shares during the quarter. Cookson Peirce & Co. Inc. owned 0.06% of Wynn Resorts worth $5,676,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors increased its stake in Wynn Resorts by 0.6% in the fourth quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock valued at $1,148,236,000 after acquiring an additional 61,209 shares during the period. BlackRock Inc. bought a new position in Wynn Resorts during the second quarter worth about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Wynn Resorts by 9.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock worth $442,890,000 after purchasing an additional 320,502 shares during the period. Egerton Capital UK LLP acquired a new stake in Wynn Resorts during the fourth quarter valued at approximately $249,053,000. Finally, Invesco Ltd. boosted its holdings in Wynn Resorts by 14.2% during the fourth quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator’s stock valued at $242,039,000 after purchasing an additional 249,704 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Trading Up 1.8%

NASDAQ WYNN opened at $95.26 on Friday. Wynn Resorts, Limited has a 1-year low of $92.52 and a 1-year high of $134.72. The company has a 50 day moving average of $99.00 and a 200-day moving average of $102.44. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 0.83 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last announced 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. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business earned $1.09 EPS. Wynn Resorts’s revenue was up 6.9% compared to the same quarter last year. On average, analysts forecast that Wynn Resorts, Limited will post 4.65 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s dividend payout ratio is 24.81%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WYNN. Stifel Nicolaus set a $143.00 target price on Wynn Resorts in a report on Wednesday, August 5th. Truist Financial assumed coverage on Wynn Resorts in a research note on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price target on the stock. Bank of America lowered their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Zacks Research upgraded Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, The Goldman Sachs Group set a $120.00 price objective on Wynn Resorts in a report on Wednesday, July 15th. One equities research 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 MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.19.

Wynn Resorts Company 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.