Enterprise Financial Services Corp maintained its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,371 shares of the casino operator’s stock at the end of the second quarter. Enterprise Financial Services Corp’s holdings in Wynn Resorts, Limited were worth $452,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Highland Capital Management LLC purchased a new stake in Wynn Resorts, Limited during the first quarter worth $223,000. Private Capital Advisors Inc. purchased a new stake in Wynn Resorts, Limited during the first quarter worth $991,000. Newman Dignan & Sheerar Inc. bought a new position in shares of Wynn Resorts, Limited during the first quarter worth $210,000. Gulf International Bank UK Ltd increased its position in shares of Wynn Resorts, Limited by 13.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,639 shares of the casino operator’s stock worth $187,000 after buying an additional 200 shares during the last quarter. Finally, Chesley Taft & Associates LLC bought a new position in shares of Wynn Resorts, Limited during the first quarter worth $1,034,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.
Shares of Wynn Resorts, Limited (WYNN) opened at 134.62 on Friday. The company’s 50-day moving average price is $131.63 and its 200-day moving average price is $119.85. The firm has a market cap of $13.72 billion, a P/E ratio of 50.38 and a beta of 1.72. Wynn Resorts, Limited has a 12 month low of $82.51 and a 12 month high of $139.67. Wynn Resorts, Limited also was the recipient of some unusual options trading activity on Tuesday. Traders bought 13,518 put options on the company. This represents an increase of approximately 161% compared to the typical daily volume of 5,177 put options.
Wynn Resorts, Limited (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 165.77%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up 44.5% on a year-over-year basis. On average, analysts predict that Wynn Resorts, Limited will post $4.90 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Thursday, August 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, August 8th. Wynn Resorts, Limited’s dividend payout ratio is currently 74.91%.
A number of research analysts recently weighed in on WYNN shares. Aegis reissued a “buy” rating and issued a $132.00 price objective (up from $121.00) on shares of Wynn Resorts, Limited in a research note on Saturday, April 29th. Union Gaming Research raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. UBS AG raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Vetr raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $131.33 price objective on the stock in a report on Tuesday, May 2nd. Finally, BidaskClub raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $126.99.
In other news, EVP Kimmarie Sinatra sold 22,624 shares of Wynn Resorts, Limited stock in a transaction on Friday, June 9th. The shares were sold at an average price of $129.12, for a total transaction of $2,921,210.88. Following the transaction, the executive vice president now owns 221,067 shares in the company, valued at approximately $28,544,171.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matt Maddox sold 44,309 shares of Wynn Resorts, Limited stock in a transaction on Friday, June 16th. The stock was sold at an average price of $134.35, for a total transaction of $5,952,914.15. Following the transaction, the president now owns 344,895 shares in the company, valued at approximately $46,336,643.25. The disclosure for this sale can be found here. Insiders sold 69,933 shares of company stock worth $9,261,125 in the last 90 days. 13.20% of the stock is currently owned by corporate insiders.
About Wynn Resorts, Limited
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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