Orvieto Partners L.P. Has $2.54 Million Position in Wynn Resorts, Limited $WYNN

Orvieto Partners L.P. decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 44.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the casino operator’s stock after selling 20,000 shares during the period. Wynn Resorts accounts for approximately 2.2% of Orvieto Partners L.P.’s holdings, making the stock its 17th largest position. Orvieto Partners L.P.’s holdings in Wynn Resorts were worth $2,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WYNN. Hantz Financial Services Inc. raised its holdings in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Cromwell Holdings LLC raised its holdings in Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares during the period. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the second quarter worth approximately $25,000. SHP Wealth Management bought a new stake in shares of Wynn Resorts in the fourth quarter valued at about $32,000. Finally, International Assets Investment Management LLC bought a new stake in Wynn Resorts in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WYNN. Jefferies Financial Group cut their target price on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citigroup dropped their target price on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a report on Friday, May 8th. Wells Fargo & Company lowered their price objective on Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, Zacks Research downgraded Wynn Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.94.

Check Out Our Latest Report on WYNN

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $96.77 on Friday. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 0.92 and a beta of 0.99. The stock’s 50 day moving average price is $100.18 and its two-hundred day moving average price is $105.02. Wynn Resorts, Limited has a 52-week low of $92.52 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate 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 net margin of 5.14% and a negative return on equity of 42.03%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 earnings per share. On average, equities research analysts forecast that Wynn Resorts, Limited will post 4.52 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio is presently 29.85%.

About Wynn Resorts

(Free Report)

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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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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