IPG Investment Advisors LLC Takes $394,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

IPG Investment Advisors LLC bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNNGet Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,632 shares of the casino operator’s stock, valued at approximately $394,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in shares of Wynn Resorts in the 3rd quarter worth about $34,000. MCF Advisors LLC grew its position in Wynn Resorts by 65.2% in the 3rd quarter. MCF Advisors LLC now owns 408 shares of the casino operator’s stock valued at $35,000 after buying an additional 161 shares in the last quarter. UMB Bank N A MO bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $39,000. Firestone Capital Management bought a new position in shares of Wynn Resorts during the 3rd quarter valued at about $44,000. Finally, Evoke Wealth LLC boosted its position in shares of Wynn Resorts by 37.0% during the 3rd quarter. Evoke Wealth LLC now owns 555 shares of the casino operator’s stock valued at $47,000 after purchasing an additional 150 shares in the last quarter. 62.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Wynn Resorts stock opened at $65.26 on Friday. The stock has a 50 day moving average price of $71.24 and a two-hundred day moving average price of $80.89. Wynn Resorts, Limited has a 52 week low of $56.36 and a 52 week high of $136.83.

Wynn Resorts (NASDAQ:WYNNGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The casino operator reported ($1.21) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.06). The business had revenue of $953.40 million for the quarter, compared to the consensus estimate of $986.35 million. During the same quarter last year, the firm posted ($2.41) earnings per share. The business’s revenue was up 31.4% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts, Limited will post -2.95 EPS for the current year.

Several equities analysts have commented on WYNN shares. Union Gaming Research increased their price target on Wynn Resorts from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 16th. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $97.00 to $79.00 in a research note on Wednesday, May 11th. Bank of America lifted their price target on shares of Wynn Resorts from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 16th. Citigroup upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $98.00 to $96.50 in a research note on Friday, April 1st. Finally, CBRE Group lifted their price objective on Wynn Resorts from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.35.

Wynn Resorts Profile (Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

Further Reading

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

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