Cambridge Investment Research Advisors Inc. Acquires 1,193 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Posted by on May 15th, 2023

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,465 shares of the casino operator’s stock after buying an additional 1,193 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Wynn Resorts were worth $2,430,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Wynn Resorts by 383.5% during the third quarter. Barclays PLC now owns 542,150 shares of the casino operator’s stock worth $34,173,000 after purchasing an additional 430,030 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in Wynn Resorts during the third quarter worth about $26,471,000. Point72 Asset Management L.P. bought a new stake in Wynn Resorts during the third quarter worth about $17,831,000. Renaissance Technologies LLC lifted its stake in Wynn Resorts by 6,658.6% during the second quarter. Renaissance Technologies LLC now owns 196,000 shares of the casino operator’s stock worth $11,168,000 after purchasing an additional 193,100 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Wynn Resorts by 1.0% during the first quarter. Vanguard Group Inc. now owns 11,054,684 shares of the casino operator’s stock worth $881,500,000 after purchasing an additional 113,816 shares during the last quarter. Institutional investors own 70.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WYNN. Barclays lifted their price target on Wynn Resorts from $117.00 to $120.00 in a research note on Wednesday, May 10th. TheStreet raised Wynn Resorts from a “d+” rating to a “c-” rating in a research note on Tuesday, April 4th. Citigroup boosted their target price on Wynn Resorts from $134.50 to $138.00 in a research note on Wednesday, May 10th. Wells Fargo & Company boosted their target price on Wynn Resorts from $128.00 to $134.00 and gave the company an “overweight” rating in a research note on Thursday, April 13th. Finally, Stifel Nicolaus boosted their target price on Wynn Resorts from $127.00 to $137.00 in a research note on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $116.82.

Insider Buying and Selling

In related news, CFO Julie Cameron-Doe sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total value of $432,320.00. Following the sale, the chief financial officer now owns 65,970 shares in the company, valued at approximately $7,130,037.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Julie Cameron-Doe sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total value of $432,320.00. Following the sale, the chief financial officer now owns 65,970 shares in the company, valued at approximately $7,130,037.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Craig Scott Billings sold 10,901 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $103.26, for a total value of $1,125,637.26. Following the completion of the transaction, the chief executive officer now directly owns 255,781 shares in the company, valued at $26,411,946.06. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Wynn Resorts Stock Performance

WYNN stock opened at $105.39 on Monday. Wynn Resorts, Limited has a fifty-two week low of $50.20 and a fifty-two week high of $117.86. The business’s 50 day moving average price is $109.98 and its two-hundred day moving average price is $96.94. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of -28.41 and a beta of 2.03.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The casino operator reported $0.29 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.47. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The business’s quarterly revenue was up 49.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.21) EPS. Sell-side analysts forecast that Wynn Resorts, Limited will post 1.05 earnings per share for the current year.

Wynn Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. Wynn Resorts’s payout ratio is currently -107.82%.

Wynn Resorts Profile

(Get Rating)

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.

Featured Articles

Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.