First Dallas Securities Inc. Grows Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

First Dallas Securities Inc. boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 70.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,350 shares of the casino operator’s stock after buying an additional 8,423 shares during the period. First Dallas Securities Inc.’s holdings in Wynn Resorts were worth $2,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Wynn Resorts during the fourth quarter valued at approximately $27,000. Sunbelt Securities Inc. boosted its stake in Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Register Financial Advisors LLC bought a new position in Wynn Resorts during the first quarter valued at approximately $37,000. Finally, GAMMA Investing LLC bought a new position in Wynn Resorts during the fourth quarter valued at approximately $38,000. 68.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several analyst reports. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company raised their price objective on Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Barclays raised their price objective on Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Citigroup raised their price objective on Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus raised their price objective on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.31.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $0.36 on Friday, reaching $89.50. 2,199,448 shares of the stock traded hands, compared to its average volume of 1,749,966. The company has a fifty day moving average price of $93.80 and a 200-day moving average price of $96.78. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 12.26 and a beta of 1.85. Wynn Resorts, Limited has a 12 month low of $81.65 and a 12 month high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. Wynn Resorts’s revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.59 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts 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.