Greenwich Wealth Management LLC Invests $30.09 Million in Wynn Resorts, Limited $WYNN

Greenwich Wealth Management LLC acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 250,055 shares of the casino operator’s stock, valued at approximately $30,089,000. Wynn Resorts accounts for 1.3% of Greenwich Wealth Management LLC’s investment portfolio, making the stock its 12th largest position.

Other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of Wynn Resorts by 54.9% in the fourth 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. Cromwell Holdings LLC increased its stake in Wynn Resorts by 68.2% during 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 during the period. MUFG Securities EMEA plc bought a new position in Wynn Resorts during the second quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in Wynn Resorts during the fourth quarter valued at about $34,000. Finally, Westside Investment Management Inc. increased its stake in Wynn Resorts by 40.2% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock valued at $44,000 after acquiring an additional 97 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Down 1.8%

NASDAQ WYNN opened at $104.62 on Wednesday. The stock’s 50 day moving average is $102.19 and its two-hundred day moving average is $111.43. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 0.98 and a beta of 0.98. Wynn Resorts, Limited has a 1-year low of $82.63 and a 1-year high of $134.72.

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

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s payout ratio is presently 29.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group restated a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd. Citigroup lowered their price target on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Stifel Nicolaus lowered their price target on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus 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.