Raymond James Financial Services Advisors Inc. Has $5.41 Million Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Posted by on May 19th, 2023

Raymond James Financial Services Advisors Inc. grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,539 shares of the casino operator’s stock after purchasing an additional 1,658 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.06% of Wynn Resorts worth $5,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC boosted its position in shares of Wynn Resorts by 383.5% during the 3rd quarter. Barclays PLC now owns 542,150 shares of the casino operator’s stock valued at $34,173,000 after acquiring an additional 430,030 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Wynn Resorts during the 3rd quarter valued at about $26,471,000. Point72 Asset Management L.P. acquired a new stake in shares of Wynn Resorts during the 3rd quarter valued at about $17,831,000. Renaissance Technologies LLC boosted its position in shares of Wynn Resorts by 6,658.6% during the 2nd quarter. Renaissance Technologies LLC now owns 196,000 shares of the casino operator’s stock valued at $11,168,000 after acquiring an additional 193,100 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Wynn Resorts by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 11,054,684 shares of the casino operator’s stock valued at $881,500,000 after acquiring an additional 113,816 shares in the last quarter. 70.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Wynn Resorts from $134.50 to $138.00 in a report on Wednesday, May 10th. Barclays raised shares of Wynn Resorts from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $135.00 in a report on Wednesday. Jefferies Financial Group lifted their price target on shares of Wynn Resorts from $130.00 to $135.00 in a report on Monday, March 13th. TheStreet raised shares of Wynn Resorts from a “d+” rating to a “c-” rating in a report on Tuesday, April 4th. Finally, Morgan Stanley boosted their target price on shares of Wynn Resorts from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.18.

Insider Activity at Wynn Resorts

In related news, CEO Craig Scott Billings sold 10,901 shares of the business’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 transaction of $1,125,637.26. Following the completion of the transaction, the chief executive officer now owns 255,781 shares in the company, valued at $26,411,946.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, 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 owns 255,781 shares in the company, valued at $26,411,946.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julie Cameron-Doe sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $108.08, for a total transaction of $432,320.00. Following the completion of the transaction, the chief financial officer now owns 65,970 shares of the company’s stock, valued at approximately $7,130,037.60. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $110.30 on Friday. Wynn Resorts, Limited has a one year low of $50.20 and a one year high of $117.86. The company has a 50 day moving average of $109.51 and a 200-day moving average of $97.77. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of -51.54 and a beta of 2.03.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The casino operator reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.47. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm earned ($1.21) EPS. The firm’s quarterly revenue was up 49.3% compared to the same quarter last year. Equities research analysts anticipate that Wynn Resorts, Limited will post 1.43 earnings per share for the current year.

Wynn Resorts Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Monday, May 22nd.

Wynn Resorts Profile

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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.

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

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