Entropy Technologies LP Buys New Position in Wynn Resorts, Limited $WYNN

Entropy Technologies LP purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,973 shares of the casino operator’s stock, valued at approximately $4,465,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WYNN. MUFG Securities EMEA plc purchased a new stake in shares of Wynn Resorts during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted 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 valued at $30,000 after purchasing an additional 89 shares during the period. Cromwell Holdings LLC grew its holdings in Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares in the last quarter. SHP Wealth Management acquired a new stake in Wynn Resorts during the 4th quarter valued at $32,000. Finally, Geneos Wealth Management Inc. increased its stake in Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 0.2%

Shares of NASDAQ WYNN opened at $96.92 on Friday. Wynn Resorts, Limited has a twelve month low of $92.52 and a twelve month high of $134.72. The business has a 50 day simple moving average of $100.21 and a 200-day simple moving average of $104.96. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 0.95 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping 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 net margin of 5.14% and a negative return on equity of 42.03%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.49 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of recent analyst reports. Barclays cut their price objective on shares of Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. lowered their target price on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research report on Friday, May 8th. Zacks Research downgraded Wynn Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, Truist Financial started coverage on Wynn Resorts in a research note on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.94.

Wynn Resorts Company Profile

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.