Regal Partners Ltd Purchases 174,005 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Regal Partners Ltd increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 24.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 898,705 shares of the casino operator's stock after purchasing an additional 174,005 shares during the quarter. Wynn Resorts makes up 7.6% of Regal Partners Ltd's investment portfolio, making the stock its 4th largest holding. Regal Partners Ltd owned approximately 0.81% of Wynn Resorts worth $86,168,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Wynn Resorts by 1.5% in the 1st 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 during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock worth $120,386,000 after buying an additional 303,033 shares during the last quarter. Janus Henderson Group PLC lifted its holdings 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 buying an additional 204,852 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Wynn Resorts by 5.1% during the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator's stock worth $80,591,000 after buying an additional 38,160 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Wynn Resorts by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 568,686 shares of the casino operator's stock worth $50,897,000 after buying an additional 23,314 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 8.6 %

NASDAQ:WYNN traded up $7.42 during trading hours on Thursday, reaching $93.22. The company had a trading volume of 9,573,984 shares, compared to its average volume of 2,223,964. The stock has a 50-day moving average of $91.84 and a two-hundred day moving average of $88.30. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The firm has a market capitalization of $10.24 billion, a PE ratio of 11.49, a PEG ratio of 3.08 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business's revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts's payout ratio is presently 12.33%.

Insider Transactions at Wynn Resorts

In other 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 transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WYNN. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Wells Fargo & Company cut their price target on Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. UBS Group upgraded Wynn Resorts to a "hold" rating in a report on Friday, August 23rd. Stifel Nicolaus cut their price target on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a report on Friday, September 13th. Finally, Macquarie restated an "outperform" rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Four research 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $115.71.

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.