NEXT Financial Group Inc Raises Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

NEXT Financial Group Inc raised its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 81.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 545 shares of the casino operator’s stock after acquiring an additional 245 shares during the quarter. NEXT Financial Group Inc’s holdings in Wynn Resorts were worth $68,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. First Republic Investment Management Inc. lifted its position in shares of Wynn Resorts by 1.8% during the 1st quarter. First Republic Investment Management Inc. now owns 5,420 shares of the casino operator’s stock worth $647,000 after buying an additional 97 shares during the last quarter. Securian Asset Management Inc lifted its position in shares of Wynn Resorts by 1.3% during the 1st quarter. Securian Asset Management Inc now owns 9,943 shares of the casino operator’s stock worth $1,186,000 after buying an additional 131 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Wynn Resorts by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 45,108 shares of the casino operator’s stock worth $5,382,000 after buying an additional 150 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of Wynn Resorts by 1.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 9,056 shares of the casino operator’s stock worth $1,081,000 after buying an additional 165 shares during the last quarter. Finally, Cibc Bank USA lifted its position in shares of Wynn Resorts by 0.9% during the 1st quarter. Cibc Bank USA now owns 24,665 shares of the casino operator’s stock worth $2,943,000 after buying an additional 225 shares during the last quarter. Institutional investors own 76.96% of the company’s stock.

Shares of Wynn Resorts stock opened at $108.91 on Friday. The firm has a fifty day simple moving average of $128.83. The firm has a market cap of $11.83 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.83 and a beta of 1.95. Wynn Resorts, Limited has a 12 month low of $90.06 and a 12 month high of $151.93. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 4.84.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.44 EPS for the quarter, meeting analysts’ consensus estimates of $1.44. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 35.45%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 EPS. On average, equities analysts expect that Wynn Resorts, Limited will post 5.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Friday, August 16th will be paid a $1.00 dividend. The ex-dividend date is Thursday, August 15th. This represents a $4.00 annualized dividend and a yield of 3.67%. Wynn Resorts’s dividend payout ratio is currently 61.16%.

Several brokerages have recently weighed in on WYNN. Jefferies Financial Group boosted their price objective on shares of Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Nomura cut their target price on shares of Wynn Resorts from $142.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday. Zacks Investment Research cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Morgan Stanley cut their target price on shares of Wynn Resorts from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Finally, Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $146.00 to $157.00 and gave the company a “buy” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $138.69.

Wynn Resorts Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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