ProShare Advisors LLC Buys 6,815 Shares of Wynn Resorts, Limited $WYNN

ProShare Advisors LLC increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 52.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,732 shares of the casino operator’s stock after acquiring an additional 6,815 shares during the period. ProShare Advisors LLC’s holdings in Wynn Resorts were worth $1,567,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Wynn Resorts in the 2nd quarter valued at $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Wynn Resorts during the second quarter worth $321,402,000. State Street Corp raised its position in shares of Wynn Resorts by 2.6% during the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock worth $295,924,000 after acquiring an additional 77,416 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Wynn Resorts by 17.4% during the first quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator’s stock valued at $125,918,000 after acquiring an additional 184,000 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Wynn Resorts during the second quarter valued at $99,277,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Key Headlines Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn said its Al Marjan Island resort in the UAE remains on track for a September 2027 opening. Continued progress may support its longer-term growth outlook, though the project requires substantial additional equity funding. Article: Wynn outlines remaining Al Marjan equity
• Positive Sentiment: The company declared a quarterly cash dividend of $0.25 per share, payable November 30 to shareholders of record November 16. Article: Wynn Resorts declares quarterly cash dividend
• Neutral Sentiment: Several analysts lowered price targets after the results but maintained positive ratings. Deutsche Bank kept Buy at $116; Macquarie retained Outperform at $128; Barclays and Wells Fargo maintained Overweight at $120 and $122, respectively. Other target cuts included Jefferies to $132 and Mizuho to $129. The ratings remain supportive, but the reductions reflect a more cautious outlook. Article: Deutsche Bank adjusts Wynn Resorts price target
• Negative Sentiment: Third-quarter revenue fell 7.9% year over year to $1.69 billion, missing estimates, and EPS of $0.33 also came in below expectations and was down from $0.86 a year earlier. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results, with declines reported across all four operating segments. Article: Wynn Resorts Q3 earnings miss estimates
• Negative Sentiment: Wynn is maintaining its UAE opening timetable amid war-related uncertainty, while the project’s rising investment and remaining equity needs add funding and execution risk. Article: Wynn holds UAE casino date amid war

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $93.00 price objective on shares of Wynn Resorts in a research report on Friday. Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. UBS Group set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, October 20th. Stifel Nicolaus set a $110.00 target price on shares of Wynn Resorts in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Wynn Resorts from $134.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.24.

Wynn Resorts Trading Up 4.8%

Shares of NASDAQ:WYNN traded up $3.79 during midday trading on Friday, hitting $83.11. The company had a trading volume of 5,045,645 shares, compared to its average volume of 2,140,233. Wynn Resorts, Limited has a 12 month low of $70.79 and a 12 month high of $134.72. The firm has a fifty day simple moving average of $80.68 and a 200 day simple moving average of $97.68. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 0.93 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, November 5th. The casino operator reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.75 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. Wynn Resorts’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. Equities analysts forecast that Wynn Resorts, Limited will post 4.26 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Wynn Resorts’s payout ratio is currently 29.85%.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.