Egerton Capital UK LLP acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) during the 4th quarter, HoldingsChannel reports. The fund acquired 2,069,751 shares of the casino operator’s stock, valued at approximately $249,053,000. Wynn Resorts accounts for approximately 2.7% of Egerton Capital UK LLP’s holdings, making the stock its 15th biggest position.
Several other large investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC lifted its holdings in Wynn Resorts by 433,217.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock valued at $8,864,000 after purchasing an additional 73,647 shares in the last quarter. Westend Capital Management LLC purchased a new position in Wynn Resorts during the fourth quarter valued at $12,084,000. OPTIMAS CAPITAL Ltd purchased a new position in Wynn Resorts during the third quarter valued at $7,888,000. SG Americas Securities LLC lifted its holdings in Wynn Resorts by 224.1% during the fourth quarter. SG Americas Securities LLC now owns 82,859 shares of the casino operator’s stock valued at $9,970,000 after purchasing an additional 57,293 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Wynn Resorts by 97.5% during the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock valued at $2,697,000 after purchasing an additional 11,067 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
WYNN has been the topic of several recent analyst reports. Wells Fargo & Company set a $142.00 price objective on shares of Wynn Resorts and gave the company an “overweight” rating in a report on Sunday, May 10th. JPMorgan Chase & Co. reduced their price objective on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Morgan Stanley decreased their price objective on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Mizuho decreased their price objective on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Finally, Barclays decreased their price objective on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $140.00.
Wynn Resorts Stock Performance
Shares of NASDAQ:WYNN opened at $104.48 on Monday. The business has a 50-day moving average price of $102.43 and a 200 day moving average price of $110.94. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 0.97 and a beta of 0.98. Wynn Resorts, Limited has a 12-month low of $82.64 and a 12-month high of $134.72.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. As a group, equities research analysts predict that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.
Wynn Resorts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s payout ratio is currently 29.85%.
About Wynn Resorts
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.
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