Credit Capital Investments LLC Makes New $638,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Credit Capital Investments LLC purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 7,000 shares of the casino operator’s stock, valued at approximately $638,000. Wynn Resorts accounts for 0.9% of Credit Capital Investments LLC’s portfolio, making the stock its 18th largest holding.

A number of other large investors have also recently bought and sold shares of the business. Eminence Capital LP bought a new position in shares of Wynn Resorts during the 4th quarter worth about $15,089,000. Seven Eight Capital LP bought a new position in shares of Wynn Resorts during the 4th quarter worth about $730,000. Cibc World Markets Corp boosted its position in shares of Wynn Resorts by 40.2% during the 4th quarter. Cibc World Markets Corp now owns 24,399 shares of the casino operator’s stock worth $2,223,000 after purchasing an additional 6,992 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Wynn Resorts by 2.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,762 shares of the casino operator’s stock worth $1,618,000 after purchasing an additional 480 shares in the last quarter. Finally, Armistice Capital LLC boosted its position in shares of Wynn Resorts by 87.8% during the 4th quarter. Armistice Capital LLC now owns 105,155 shares of the casino operator’s stock worth $9,581,000 after purchasing an additional 49,155 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wynn Resorts

In related news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, May 28th. The shares were 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 in the company, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WYNN has been the topic of several recent research reports. Morgan Stanley raised their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Stifel Nicolaus raised their price target on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised their price target on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Thursday, May 23rd. Finally, StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.31.

Wynn Resorts Trading Down 1.2 %

Shares of WYNN stock traded down $1.13 during trading hours on Tuesday, hitting $91.74. 2,077,298 shares of the company were exchanged, compared to its average volume of 1,748,499. The firm has a fifty day simple moving average of $97.45 and a 200 day simple moving average of $96.47. Wynn Resorts, Limited has a 52-week low of $81.65 and a 52-week high of $112.25. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 12.57 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $0.29 EPS. Wynn Resorts’s quarterly revenue was up 30.9% compared to the same quarter last year. Sell-side analysts anticipate that Wynn Resorts, Limited will post 5.58 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Wynn Resorts’s payout ratio is currently 13.70%.

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.