Biglari Capital CORP. purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 143,801 shares of the casino operator's stock, valued at approximately $13,961,639. Wynn Resorts comprises approximately 0.0% of Biglari Capital CORP.'s portfolio, making the stock its 5th biggest position. Biglari Capital CORP. owned 0.14% of Wynn Resorts as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of WYNN. Hantz Financial Services Inc. increased 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. MUFG Securities EMEA plc acquired a new position in Wynn Resorts in the second quarter worth approximately $25,000. SHP Wealth Management acquired a new position in Wynn Resorts in the fourth quarter worth approximately $32,000. International Assets Investment Management LLC acquired a new position in Wynn Resorts in the fourth quarter worth approximately $34,000. Finally, Geneos Wealth Management Inc. increased its holdings in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after buying an additional 156 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on WYNN shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $137.00 price objective on shares of Wynn Resorts in a report on Friday, May 8th. The Goldman Sachs Group set a $120.00 price objective on Wynn Resorts in a report on Wednesday, July 15th. Barclays increased their price objective on Wynn Resorts from $134.00 to $136.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $134.19.
View Our Latest Analysis on Wynn Resorts
Wynn Resorts Stock Up 1.8%
Shares of Wynn Resorts stock opened at $95.26 on Friday. The stock has a market capitalization of $9.81 billion, a P/E ratio of 23.64, a PEG ratio of 0.82 and a beta of 1.01. The stock has a 50 day moving average price of $99.00 and a two-hundred day moving average price of $102.44. Wynn Resorts, Limited has a 12-month low of $92.52 and a 12-month high of $134.72.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company's revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Sell-side analysts anticipate that Wynn Resorts, Limited will post 4.65 earnings per share for the current year.
Wynn Resorts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts's dividend payout ratio is presently 24.81%.
Wynn Resorts Company Profile
(
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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