Infrastructure Capital Advisors LLC Buys Shares of 6,155 Wynn Resorts, Limited $WYNN

Infrastructure Capital Advisors LLC acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,155 shares of the casino operator’s stock, valued at approximately $598,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP grew its position in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Wynn Resorts by 13.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock valued at $155,000 after purchasing an additional 201 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its position in Wynn Resorts by 9.5% during the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after buying an additional 868 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $100.28 on Monday. The business has a 50-day moving average of $99.78 and a 200 day moving average of $102.95. Wynn Resorts, Limited has a 12 month low of $92.52 and a 12 month high of $134.72. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business posted $1.09 earnings per share. Wynn Resorts’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Wynn Resorts, Limited will post 4.63 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio is presently 24.81%.

Analyst Ratings Changes

Several research analysts have recently weighed in on WYNN shares. Citigroup reissued a “buy” rating on shares of Wynn Resorts in a research report on Thursday, August 6th. JPMorgan Chase & Co. reduced their target price on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Stifel Nicolaus set a $143.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 5th. Mizuho reduced their price target on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target 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.