Invictus Private Wealth LLC Makes New $240,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Invictus Private Wealth LLC bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,500 shares of the casino operator’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts during the second quarter valued at $25,000. Blue Trust Inc. lifted its holdings in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Wynn Resorts during the second quarter valued at $51,000. Covestor Ltd lifted its holdings in shares of Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after purchasing an additional 166 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

WYNN opened at $86.72 on Wednesday. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The business has a 50-day moving average of $90.38 and a 200-day moving average of $88.69. The company has a market capitalization of $9.63 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned $0.99 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts expect that Wynn Resorts, Limited will post 5.42 earnings per share for the current fiscal year.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WYNN has been the subject of several analyst reports. Susquehanna upped their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wells Fargo & Company decreased their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Company Profile

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.