Regal Partners Ltd grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 11.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 897,646 shares of the casino operator’s stock after purchasing an additional 92,000 shares during the quarter. Wynn Resorts makes up approximately 5.0% of Regal Partners Ltd’s investment portfolio, making the stock its 8th largest position. Regal Partners Ltd owned approximately 0.86% of Wynn Resorts worth $91,156,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC grew its stake in Wynn Resorts by 433,217.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock worth $8,864,000 after purchasing an additional 73,647 shares in the last quarter. Westend Capital Management LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter worth $12,084,000. Pacer Advisors Inc. lifted its holdings in shares of Wynn Resorts by 97.5% in the 4th quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock worth $2,697,000 after buying an additional 11,067 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Wynn Resorts by 46.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock valued at $92,676,000 after buying an additional 243,179 shares during the period. Finally, Patton Fund Management Inc. raised its holdings in shares of Wynn Resorts by 642.8% in the fourth quarter. Patton Fund Management Inc. now owns 19,923 shares of the casino operator’s stock valued at $2,397,000 after acquiring an additional 17,241 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.
Wynn Resorts Stock Down 0.7%
NASDAQ:WYNN opened at $99.02 on Wednesday. Wynn Resorts, Limited has a 52 week low of $92.52 and a 52 week high of $134.72. The firm has a 50 day moving average of $100.38 and a 200 day moving average of $104.59. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 0.98 and a beta of 0.99.
Wynn Resorts Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s payout ratio is 29.85%.
Analyst Ratings Changes
Several research analysts have issued reports on WYNN shares. Morgan Stanley reiterated an “overweight” rating and set a $128.00 target price on shares of Wynn Resorts in a report on Wednesday, July 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Wells Fargo & Company lowered their target price on Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Zacks Research downgraded Wynn Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, Truist Financial started coverage on Wynn Resorts in a research note on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.44.
View Our Latest Research Report on Wynn Resorts
Key Headlines Impacting Wynn Resorts
Here are the key news stories impacting Wynn Resorts this week:
- Positive Sentiment: Wynn Resorts and Marjan have broken ground on Wynn Al Marjan Island in Ras Al Khaimah, advancing the company’s first integrated resort in the UAE. The project could provide a long-term growth opportunity through geographic diversification and exposure to the developing Middle Eastern gaming and tourism market. Marjan and Wynn Resorts break ground on Janu Al Marjan Island
- Positive Sentiment: Mizuho lowered its Wynn Resorts price target from $133 to $125 but maintained an Outperform rating. The revised target still implies substantial upside, suggesting the analyst believes the recent pullback has created an attractive entry point despite more cautious estimates. Mizuho lowers Wynn Resorts price target
- Neutral Sentiment: The Neon Museum will host an October event featuring former Wynn Resorts chairman Steve Wynn discussing how The Mirage changed Las Vegas. The event may generate publicity around Wynn’s Las Vegas legacy, but it is not expected to have a meaningful direct financial effect on Wynn Resorts. The Neon Museum to present Reflections of the Mirage
- Negative Sentiment: Analysts expect Wynn Resorts to report a year-over-year earnings decline in its upcoming results. Zacks says the company lacks the typical combination of positive earnings revisions and estimate momentum associated with a likely earnings beat, increasing the risk of disappointing guidance or results. Analysts estimate Wynn Resorts to report a decline in earnings
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.
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