Glenview Trust Co Buys New Position in Wynn Resorts, Limited $WYNN

Glenview Trust Co bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, Holdings Channel reports. The fund bought 17,816 shares of the casino operator’s stock, valued at approximately $1,730,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Wynn Resorts during the second quarter valued at $609,566,000. Sequoia Financial Advisors LLC increased its holdings in Wynn Resorts by 46.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock worth $92,676,000 after purchasing an additional 243,179 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Wynn Resorts by 97.5% during the 4th quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock worth $2,697,000 after acquiring an additional 11,067 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in Wynn Resorts during the second quarter worth about $1,053,000. Finally, Biglari Capital CORP. bought a new position in shares of Wynn Resorts in the second quarter valued at approximately $13,961,639. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Up 1.8%

Shares of NASDAQ:WYNN opened at $95.26 on Friday. Wynn Resorts, Limited has a 12-month low of $92.52 and a 12-month high of $134.72. The stock’s 50-day moving average price is $99.00 and its 200-day moving average price is $102.44. The stock has a market capitalization of $9.81 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 0.82 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. As a group, research analysts predict that Wynn Resorts, Limited will post 4.65 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts’s dividend payout ratio (DPR) is currently 24.81%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WYNN shares. The Goldman Sachs Group set a $120.00 price target on shares of Wynn Resorts in a report on Wednesday, July 15th. Bank of America decreased their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Finally, Barclays upped their target price on shares of Wynn Resorts from $134.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.19.

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.