Greenwich Wealth Management LLC Invests $46.85 Million in Wynn Resorts, Limited $WYNN

Greenwich Wealth Management LLC invested $46.85 million in Wynn Resorts, acquiring 500,103 shares. The stock is 2.3% of their portfolio. Other investors also adjusted their stakes. Analysts have given Wynn Resorts a "Moderate Buy" rating with an average price target of $134.69. The stock opened at $128.40, with a market cap of $13.35 billion. Recent earnings missed estimates, but revenue increased by 8.3% year-over-year. A quarterly dividend of $0.25 was announced.

Greenwich Wealth Management LLC acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 500,103 shares of the casino operator's stock, valued at approximately $46,845,000. Wynn Resorts comprises 2.3% of Greenwich Wealth Management LLC's portfolio, making the stock its 7th biggest position. Greenwich Wealth Management LLC owned about 0.48% of Wynn Resorts at the end of the most recent reporting period.

Wynn Resorts: 6 Reasons to Ante Up for the Stock

Several other institutional investors have also recently added to or reduced their stakes in WYNN. Norges Bank acquired a new position in Wynn Resorts in the second quarter valued at approximately $106,289,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Wynn Resorts by 13.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator's stock worth $155,000 after buying an additional 201 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $33,000. Manchester Capital Management LLC grew its position in shares of Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock valued at $30,000 after buying an additional 300 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Wynn Resorts by 502.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,533 shares of the casino operator's stock valued at $425,000 after buying an additional 3,780 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WYNN shares. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $136.00 to $138.00 and gave the company an "overweight" rating in a research report on Friday, November 7th. Wells Fargo & Company started coverage on Wynn Resorts in a report on Tuesday, November 18th. They issued an "overweight" rating and a $151.00 target price for the company. Jefferies Financial Group raised their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Macquarie boosted their price objective on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Wynn Resorts in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $134.69.

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Check Out Our Latest Stock Report on Wynn Resorts

Wynn Resorts Stock Down 0.8%

Shares of WYNN stock opened at $128.40 on Friday. The stock's 50-day moving average price is $123.45 and its 200 day moving average price is $111.59. The stock has a market capitalization of $13.35 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.23.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). The company had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. Analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, November 17th. Wynn Resorts's dividend payout ratio (DPR) is 22.37%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Profile

(Free Report)

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.

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