Clough Capital Partners L P Reduces Stock Position in Wynn Resorts, Limited $WYNN

Clough Capital Partners L P lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,230 shares of the casino operator’s stock after selling 8,330 shares during the quarter. Wynn Resorts makes up approximately 1.4% of Clough Capital Partners L P’s holdings, making the stock its 29th largest holding. Clough Capital Partners L P’s holdings in Wynn Resorts were worth $15,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its stake in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Horizon Investments LLC lifted its stake in shares of Wynn Resorts by 6.7% in the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after purchasing an additional 94 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Wynn Resorts by 21.6% in the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock valued at $72,000 after purchasing an additional 100 shares in the last quarter. Cromwell Holdings LLC lifted its stake in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Wynn Resorts by 23.5% in the 4th quarter. Larson Financial Group LLC now owns 557 shares of the casino operator’s stock valued at $67,000 after purchasing an additional 106 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $102.31 on Thursday. Wynn Resorts, Limited has a 12-month low of $86.53 and a 12-month high of $134.72. The firm has a market capitalization of $10.62 billion, a P/E ratio of 30.54, a P/E/G ratio of 0.97 and a beta of 0.98. The business has a 50 day simple moving average of $103.24 and a 200 day simple moving average of $109.95.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts anticipate that Wynn Resorts, Limited will post 4.61 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.25 per share. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s payout ratio is currently 29.85%.

Analyst Ratings Changes

Several equities research analysts recently commented on WYNN shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a report on Friday, May 8th. Wells Fargo & Company set a $142.00 price target on Wynn Resorts and gave the company an “overweight” rating in a report on Sunday, May 10th. Morgan Stanley lowered their price target on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Citigroup lowered their price target on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, UBS Group reiterated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.