Wynn Resorts, Limited (WYNN) Stake Increased by Private Bank & Trust Co.

Private Bank & Trust Co. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 47.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,960 shares of the casino operator’s stock after buying an additional 7,035 shares during the period. Wynn Resorts, Limited accounts for about 0.4% of Private Bank & Trust Co.’s holdings, making the stock its 29th largest position. Private Bank & Trust Co.’s holdings in Wynn Resorts, Limited were worth $2,945,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of Wynn Resorts, Limited by 83.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the casino operator’s stock valued at $117,000 after buying an additional 462 shares during the last quarter. FNY Partners Fund LP increased its position in shares of Wynn Resorts, Limited by 5,400.0% in the first quarter. FNY Partners Fund LP now owns 1,100 shares of the casino operator’s stock valued at $126,000 after buying an additional 1,080 shares during the last quarter. Mercer Capital Advisers Inc. bought a new position in shares of Wynn Resorts, Limited during the first quarter valued at $143,000. Reilly Financial Advisors LLC increased its position in shares of Wynn Resorts, Limited by 1,000.0% in the second quarter. Reilly Financial Advisors LLC now owns 1,100 shares of the casino operator’s stock valued at $148,000 after buying an additional 1,000 shares during the last quarter. Finally, Financial Architects Inc increased its position in shares of Wynn Resorts, Limited by 4.2% in the second quarter. Financial Architects Inc now owns 1,250 shares of the casino operator’s stock valued at $168,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Wynn Resorts, Limited (NASDAQ WYNN) traded up 0.21% on Friday, reaching $134.90. The company had a trading volume of 1,729,642 shares. The stock’s 50 day moving average is $131.69 and its 200-day moving average is $120.08. The stock has a market capitalization of $13.75 billion, a P/E ratio of 50.49 and a beta of 1.72. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $139.67. Wynn Resorts, Limited also saw unusually large options trading on Tuesday. Stock investors purchased 13,518 put options on the company. This represents an increase of approximately 161% compared to the average volume of 5,177 put options.

Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, July 25th. The casino operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.47 billion. Wynn Resorts, Limited had a return on equity of 165.77% and a net margin of 5.02%. Wynn Resorts, Limited’s revenue for the quarter was up 44.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 earnings per share. On average, equities analysts predict that Wynn Resorts, Limited will post $4.90 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Thursday, August 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.00 dividend on an annualized basis and a yield of 1.48%. Wynn Resorts, Limited’s dividend payout ratio is currently 74.91%.

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Several equities research analysts recently commented on WYNN shares. Aegis reiterated a “buy” rating and issued a $132.00 price objective (up from $121.00) on shares of Wynn Resorts, Limited in a report on Saturday, April 29th. Union Gaming Research upgraded Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. UBS AG upgraded Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Vetr upgraded Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $131.33 price objective for the company in a report on Tuesday, May 2nd. Finally, BidaskClub upgraded Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $126.99.

In other news, Director Clark T. Jr. Randt sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $129.00, for a total value of $387,000.00. Following the transaction, the director now owns 7,711 shares in the company, valued at $994,719. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kimmarie Sinatra sold 22,624 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $129.12, for a total value of $2,921,210.88. Following the completion of the transaction, the executive vice president now owns 221,067 shares in the company, valued at approximately $28,544,171.04. The disclosure for this sale can be found here. Insiders have sold 69,933 shares of company stock worth $9,261,125 in the last quarter. 13.20% of the stock is currently owned by company insiders.

Wynn Resorts, Limited Company Profile

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Institutional Ownership by Quarter for Wynn Resorts, Limited (NASDAQ:WYNN)

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