Shellback Capital LP Sells 60,000 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Shellback Capital LP cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 44.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,000 shares of the casino operator's stock after selling 60,000 shares during the quarter. Shellback Capital LP owned about 0.07% of Wynn Resorts worth $6,712,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WYNN. Interval Partners LP increased its stake in shares of Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator's stock valued at $40,985,000 after acquiring an additional 364,432 shares during the last quarter. Renaissance Technologies LLC increased its stake in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock valued at $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Wynn Resorts by 6,720.4% in the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator's stock worth $23,050,000 after purchasing an additional 253,761 shares during the period. Janus Henderson Group PLC boosted its position in shares of Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock worth $115,082,000 after purchasing an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock worth $1,127,456,000 after purchasing an additional 166,594 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company's stock.

Insiders Place Their Bets

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 completion of the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company's stock.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $6.59 during trading hours on Friday, hitting $97.62. 11,251,290 shares of the company traded hands, compared to its average volume of 2,031,551. The business's 50-day moving average is $78.63 and its 200-day moving average is $89.28. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 2.17 and a beta of 1.80. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The company's revenue was up 8.4% on a year-over-year basis. Analysts predict that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Wynn Resorts's payout ratio is 13.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WYNN. Wells Fargo & Company dropped their price objective on Wynn Resorts from $126.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Seaport Res Ptn raised Wynn Resorts from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $110.00 to $101.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Tuesday, September 17th. Finally, Morgan Stanley upgraded shares of Wynn Resorts from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $97.00 to $104.00 in a report on Friday. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.20.

Wynn Resorts Company 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.