Root Financial Partners LLC Purchases 6,789 Shares of Wynn Resorts, Limited $WYNN

Root Financial Partners LLC grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 3,311.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,994 shares of the casino operator’s stock after acquiring an additional 6,789 shares during the period. Root Financial Partners LLC’s holdings in Wynn Resorts were worth $842,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its position in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares during the period. Horizon Investments LLC lifted its position in shares of Wynn Resorts by 6.7% in the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock worth $180,000 after purchasing an additional 94 shares during the period. Westside Investment Management Inc. lifted its position in shares of Wynn Resorts by 40.2% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock worth $44,000 after purchasing an additional 97 shares during the period. Parallel Advisors LLC lifted its position in shares of Wynn Resorts by 21.6% in the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after purchasing an additional 100 shares during the period. Finally, Cromwell Holdings LLC boosted its stake in Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $106.53 on Tuesday. The firm’s 50-day moving average is $102.19 and its two-hundred day moving average is $111.43. Wynn Resorts, Limited has a 12 month low of $82.63 and a 12 month high of $134.72. The company has a market capitalization of $11.06 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 0.93 and a beta of 0.98.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. Wynn Resorts’s quarterly revenue was up 9.2% compared to the same quarter last year. Sell-side analysts forecast that Wynn Resorts, Limited will post 4.68 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio is presently 29.85%.

Analysts Set New Price Targets

WYNN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 13th. Citigroup dropped their price target on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. UBS Group restated a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. Finally, Jefferies Financial Group dropped their target price on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

About Wynn Resorts

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.