Polymer Capital Management HK LTD Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Polymer Capital Management HK LTD bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,000 shares of the casino operator's stock, valued at approximately $1,379,000.

Several other hedge funds also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Wynn Resorts by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock worth $209,120,000 after purchasing an additional 26,792 shares during the period. Norges Bank acquired a new stake in shares of Wynn Resorts during the fourth quarter worth about $117,352,000. Charles Schwab Investment Management Inc. grew its position in shares of Wynn Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator's stock valued at $82,062,000 after purchasing an additional 5,032 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Wynn Resorts in the 4th quarter valued at approximately $75,872,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Trading Up 0.5 %

Shares of Wynn Resorts stock traded up $0.34 on Friday, reaching $72.64. 1,176,338 shares of the company were exchanged, compared to its average volume of 2,444,811. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81. The company has a 50-day moving average of $83.47 and a 200 day moving average of $88.75. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.35 and a beta of 1.53.

Remove Ads

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is presently 23.75%.

Insider Buying and Selling at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta purchased 300,000 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $70.37 per share, with a total value of $21,111,000.00. Following the acquisition, the insider now directly owns 12,900,000 shares in the company, valued at $907,773,000. The trade was a 2.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Philip G. Satre bought 22,200 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares of the company's stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 438,700 shares of company stock worth $31,300,943 over the last 90 days. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on WYNN shares. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Morgan Stanley dropped their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Macquarie reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Finally, StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.58.

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.