Biglari Sardar Purchases Shares of 61,200 Wynn Resorts, Limited (NASDAQ:WYNN)

Biglari Sardar acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 61,200 shares of the casino operator's stock, valued at approximately $5,868,000. Wynn Resorts comprises about 12.5% of Biglari Sardar's investment portfolio, making the stock its 4th largest holding. Biglari Sardar owned approximately 0.06% of Wynn Resorts at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its position in Wynn Resorts by 8.5% in the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator's stock worth $137,000 after purchasing an additional 120 shares during the period. Allworth Financial LP raised its stake in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock valued at $86,000 after buying an additional 133 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator's stock worth $496,000 after acquiring an additional 149 shares during the period. GAMMA Investing LLC boosted its position in shares of Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator's stock valued at $74,000 after acquiring an additional 166 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in Wynn Resorts by 4.1% in the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator's stock valued at $443,000 after acquiring an additional 181 shares during the period. Institutional investors own 68.87% of the company's stock.

Wynn Resorts Trading Up 1.9 %

Shares of WYNN traded up $1.78 during mid-day trading on Monday, hitting $96.16. 2,944,531 shares of the company traded hands, compared to its average volume of 2,217,328. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.46 and a beta of 1.78. The business has a 50-day moving average of $94.90 and a 200 day moving average of $87.85. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

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

Wynn Resorts Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group upgraded shares of Wynn Resorts to a "hold" rating in a research note on Friday, August 23rd. Stifel Nicolaus cut their target price on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a research report on Friday, September 13th. Macquarie reaffirmed an "outperform" rating and issued a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Barclays dropped their price objective on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Four 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.71.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company's stock.

About Wynn Resorts

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.