Lmcg Investments LLC Takes $3.77 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Lmcg Investments LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 3rd quarter, Holdings Channel reports. The firm purchased 39,343 shares of the casino operator’s stock, valued at approximately $3,772,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares during the period. Renaissance Technologies LLC lifted its position in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares in the last quarter. Janus Henderson Group PLC lifted its position in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Bamco Inc. NY lifted its position in Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after acquiring an additional 38,160 shares in the last quarter. Finally, Regal Partners Ltd lifted its position in Wynn Resorts by 5.6% in the 2nd quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock valued at $64,861,000 after acquiring an additional 38,344 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Macquarie restated an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.21.

Wynn Resorts Stock Performance

NASDAQ:WYNN traded down $0.34 during mid-day trading on Friday, hitting $95.68. The stock had a trading volume of 1,737,673 shares, compared to its average volume of 2,356,954. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.49 and a beta of 1.80. The company’s 50 day simple moving average is $89.82 and its 200 day simple moving average is $88.88.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.42 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.05%. Wynn Resorts’s dividend payout ratio is currently 13.57%.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.