Cookson Peirce & Co. Inc. Has $5.68 Million Position in Wynn Resorts, Limited $WYNN

Cookson Peirce & Co. Inc. increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 15.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 58,459 shares of the casino operator’s stock after acquiring an additional 7,970 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Wynn Resorts were worth $5,676,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at $25,000. Hantz Financial Services Inc. lifted its stake in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 89 shares during the period. SHP Wealth Management bought a new position in Wynn Resorts in the fourth quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its holdings in 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 acquiring an additional 156 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Wynn Resorts in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Trading Up 1.8%

NASDAQ:WYNN opened at $95.26 on Friday. Wynn Resorts, Limited has a 1-year low of $92.52 and a 1-year high of $134.72. The business’s 50-day moving average price is $99.00 and its two-hundred day moving average price is $102.44. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 0.83 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. The company 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 company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Sell-side analysts predict that Wynn Resorts, Limited will post 4.65 earnings per share for the current year.

Wynn Resorts Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial assumed coverage on Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Argus boosted their price target on shares of Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Wynn Resorts in a report on Thursday, August 6th. Finally, Barclays raised their price objective on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.