MML Investors Services LLC Has $1.63 Million Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

MML Investors Services LLC boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 135.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the casino operator’s stock after purchasing an additional 9,788 shares during the quarter. MML Investors Services LLC’s holdings in Wynn Resorts were worth $1,630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WYNN. International Assets Investment Management LLC acquired a new stake in Wynn Resorts in the 2nd quarter worth about $25,000. Blue Trust Inc. increased its holdings in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares during the period. Allworth Financial LP increased its holdings in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Wynn Resorts by 703.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock valued at $99,000 after buying an additional 900 shares during the period. Finally, Covestor Ltd increased its holdings in Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $91.96 on Wednesday. The company has a market capitalization of $10.10 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company’s 50 day moving average price is $94.44 and its 200-day moving average price is $87.77.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 EPS. Analysts forecast that Wynn Resorts, Limited will post 4.79 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Wynn Resorts’s payout ratio is 12.33%.

Wall Street Analyst Weigh In

WYNN has been the topic of several recent analyst reports. Susquehanna raised their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley raised their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus decreased their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Finally, Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Company 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.