Crystal Rock Capital Management Acquires New Shares in Wynn Resorts, Limited (NASDAQ:WYNN)

Crystal Rock Capital Management acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,500 shares of the casino operator’s stock, valued at approximately $719,000. Wynn Resorts accounts for about 0.4% of Crystal Rock Capital Management’s holdings, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after acquiring an additional 7,380 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Wynn Resorts by 540.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after purchasing an additional 8,590 shares during the period. Vanguard Group Inc. boosted its holdings in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the period. Cetera Investment Advisers boosted its holdings in Wynn Resorts by 326.5% in the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after purchasing an additional 19,889 shares during the period. Finally, MBB Public Markets I LLC bought a new stake in Wynn Resorts in the 2nd quarter valued at $698,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WYNN shares. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Macquarie reaffirmed an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $115.71.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts 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 sale, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $86.48 on Tuesday. The business’s 50-day simple moving average is $91.15 and its 200-day simple moving average is $88.36. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a market capitalization of $9.50 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced 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 net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.99 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Wynn Resorts, Limited will post 4.9 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio is 12.33%.

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.