Lazari Capital Management Inc. Buys 23,391 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Lazari Capital Management Inc. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 182.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,187 shares of the casino operator’s stock after purchasing an additional 23,391 shares during the period. Wynn Resorts makes up approximately 1.5% of Lazari Capital Management Inc.’s investment portfolio, making the stock its 13th largest holding. Lazari Capital Management Inc.’s holdings in Wynn Resorts were worth $3,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in Wynn Resorts during the 2nd quarter worth $25,000. Register Financial Advisors LLC acquired a new stake in shares of Wynn Resorts during the first quarter worth about $37,000. Blue Trust Inc. lifted its holdings in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $51,000. Finally, Covestor Ltd increased its stake in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $99.40 on Wednesday. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.57 and a beta of 1.81. The firm’s 50-day moving average is $86.41 and its 200-day moving average is $89.02.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Wynn Resorts’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Wynn Resorts, Limited will post 5.42 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Analyst Ratings Changes

Several research analysts have recently weighed in on WYNN shares. Jefferies Financial Group reduced their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Wells Fargo & Company upped their target price on shares of Wynn Resorts from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Barclays upped their price objective on Wynn Resorts from $108.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Stifel Nicolaus dropped their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.87.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

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.