Alps Advisors Inc. increased its stake in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 3.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 262,208 shares of the casino operator’s stock after buying an additional 7,960 shares during the period. Alps Advisors Inc.’s holdings in Wynn Resorts were worth $23,767,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc boosted its position in shares of Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock valued at $100,000 after buying an additional 327 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Wynn Resorts during the first quarter valued at $205,000. RMB Capital Management LLC bought a new position in shares of Wynn Resorts during the first quarter valued at $316,000. ING Groep NV bought a new position in shares of Wynn Resorts during the first quarter valued at $368,000. Finally, K.J. Harrison & Partners Inc boosted its position in shares of Wynn Resorts by 50.0% in the second quarter. K.J. Harrison & Partners Inc now owns 4,500 shares of the casino operator’s stock valued at $408,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 74.48% of the company’s stock.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) traded down 0.07% during mid-day trading on Tuesday, reaching $100.74. The company’s stock had a trading volume of 3,778,044 shares. The company’s 50-day moving average price is $98.73 and its 200-day moving average price is $95.67. Wynn Resorts Ltd. has a 12-month low of $49.95 and a 12-month high of $109.50. The stock has a market capitalization of $10.22 billion, a P/E ratio of 31.17 and a beta of 2.00.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.16. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Wynn Resorts Ltd. will post $3.83 earnings per share for the current fiscal year.
Several equities analysts have weighed in on WYNN shares. Vetr cut Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $100.18 price objective on the stock. in a research note on Wednesday, July 6th. Zacks Investment Research upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Thursday, June 30th. Buckingham Research started coverage on Wynn Resorts in a research note on Friday, August 12th. They set a “buy” rating and a $113.00 price objective on the stock. Morgan Stanley upgraded Wynn Resorts from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 3rd. Finally, Deutsche Bank AG restated a “hold” rating on shares of Wynn Resorts in a research note on Sunday, June 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wynn Resorts currently has an average rating of “Hold” and an average price target of $99.91.
About Wynn Resorts
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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