Hudson Bay Capital Management LP Sells 6,278 Shares of Wynn Resorts, Limited $WYNN

Hudson Bay Capital Management LP cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 7.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 77,704 shares of the casino operator’s stock after selling 6,278 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Wynn Resorts were worth $9,967,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WYNN. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts in the second quarter valued at about $25,000. Root Financial Partners LLC bought a new position in shares of Wynn Resorts during the third quarter worth about $26,000. Manchester Capital Management LLC lifted its stake in shares of Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after acquiring an additional 300 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in Wynn Resorts in the third quarter valued at approximately $31,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in Wynn Resorts by 400.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Mizuho upped their price objective on shares of Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Jefferies Financial Group increased their price objective on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Morgan Stanley lowered their target price on shares of Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft set a $144.00 target price on shares of Wynn Resorts in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.87.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $103.16 on Friday. The business has a 50-day simple moving average of $110.09 and a 200 day simple moving average of $119.06. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.72. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 11.51 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company posted $2.42 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts’s payout ratio is 33.33%.

Wynn Resorts Company 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.