Biglari Capital CORP. Buys New Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Biglari Capital CORP. acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 138,801 shares of the casino operator's stock, valued at approximately $13,308,000. Wynn Resorts makes up approximately 2.0% of Biglari Capital CORP.'s investment portfolio, making the stock its 6th largest position. Biglari Capital CORP. owned about 0.13% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tidal Investments LLC grew its stake in shares of Wynn Resorts by 157.7% in the 1st quarter. Tidal Investments LLC now owns 9,186 shares of the casino operator's stock worth $939,000 after acquiring an additional 5,621 shares in the last quarter. Comerica Bank grew its position in Wynn Resorts by 56.0% in the 1st quarter. Comerica Bank now owns 25,881 shares of the casino operator's stock worth $2,646,000 after purchasing an additional 9,295 shares in the last quarter. Cetera Investment Advisers grew its position in Wynn Resorts by 326.5% in the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator's stock worth $2,656,000 after purchasing an additional 19,889 shares in the last quarter. Cetera Advisors LLC increased its stake in Wynn Resorts by 9.4% in the 1st quarter. Cetera Advisors LLC now owns 9,870 shares of the casino operator's stock valued at $1,009,000 after buying an additional 850 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Wynn Resorts by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,229 shares of the casino operator's stock worth $1,239,000 after buying an additional 300 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Tuesday, September 17th. Morgan Stanley lifted their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Macquarie restated an "outperform" rating and set a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.71.

Wynn Resorts Stock Performance

WYNN stock traded up $1.78 during midday trading on Monday, reaching $96.16. 2,944,531 shares of the company's stock traded hands, compared to its average volume of 2,217,328. The firm has a market capitalization of $10.56 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. The company has a 50-day moving average price of $94.90 and a two-hundred day moving average price of $87.85. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts predict that Wynn Resorts, Limited will post 4.78 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts's payout ratio is 12.33%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.