Coastwise Capital Group LLC Purchases 1,419 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Coastwise Capital Group LLC grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 21.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,106 shares of the casino operator’s stock after buying an additional 1,419 shares during the quarter. Coastwise Capital Group LLC’s holdings in Wynn Resorts were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC boosted its position in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after acquiring an additional 303,033 shares in the last quarter. Regal Partners Ltd lifted its position in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Wynn Resorts by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock worth $59,874,000 after acquiring an additional 10,465 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in Wynn Resorts in the third quarter worth about $58,486,000. Institutional investors own 68.87% of the company’s stock.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’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. The trade was a 31.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Trading Up 3.0 %

Shares of NASDAQ WYNN opened at $94.38 on Monday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. The firm has a 50 day moving average of $94.90 and a 200 day moving average of $87.91.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. Sell-side analysts predict that Wynn Resorts, Limited will post 4.78 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Wynn Resorts’s payout ratio is 12.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WYNN shares. Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Susquehanna upped their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Finally, Barclays reduced their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Four research 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 MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $115.71.

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.