Wynn Resorts, Limited $WYNN Shares Bought by Night Squared LP

Night Squared LP lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 824.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,626 shares of the casino operator’s stock after acquiring an additional 44,258 shares during the quarter. Wynn Resorts accounts for 2.3% of Night Squared LP’s portfolio, making the stock its 16th largest holding. Night Squared LP’s holdings in Wynn Resorts were worth $6,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of WYNN. Norges Bank acquired a new stake in shares of Wynn Resorts during the second quarter worth $106,289,000. Palidye Holdings Caymans Ltd acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $104,629,000. Thrivent Financial for Lutherans boosted its position in shares of Wynn Resorts by 6,391.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after purchasing an additional 737,234 shares during the period. Westfield Capital Management Co. LP purchased a new position in Wynn Resorts in the 3rd quarter worth about $73,588,000. Finally, Greenwich Wealth Management LLC purchased a new position in Wynn Resorts in the 2nd quarter worth about $46,845,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 1.7%

NASDAQ:WYNN opened at $100.43 on Friday. The company’s 50 day moving average is $111.41 and its 200-day moving average is $119.67. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 33.48, a P/E/G ratio of 11.78 and a beta of 1.01.

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

Wynn Resorts Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on WYNN shares. Barclays upped their price objective on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Wells Fargo & Company reduced their target price on Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $144.00 price target on shares of Wynn Resorts in a research report on Friday, February 13th. Finally, Susquehanna reissued a “positive” rating and set a $133.00 target price on shares of Wynn Resorts in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.87.

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.