Sanders Morris Harris LLC Invests $665,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Sanders Morris Harris LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,500 shares of the casino operator's stock, valued at approximately $665,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in WYNN. Fisher Asset Management LLC grew its position in Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Wynn Resorts by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator's stock valued at $229,945,000 after purchasing an additional 34,907 shares during the last quarter. Regal Partners Ltd lifted its stake in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock worth $86,168,000 after purchasing an additional 174,005 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock worth $72,672,000 after buying an additional 755,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Wynn Resorts by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator's stock valued at $59,874,000 after acquiring an additional 10,465 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Up 0.1 %

Shares of NASDAQ WYNN traded up $0.09 during trading hours on Thursday, hitting $82.50. 1,844,759 shares of the stock were exchanged, compared to its average volume of 2,318,046. The company has a market cap of $9.06 billion, a PE ratio of 10.17, a PEG ratio of 2.40 and a beta of 1.77. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The firm has a fifty day moving average price of $89.05 and a 200-day moving average price of $87.00.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Wynn Resorts's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 4.73 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Wynn Resorts's payout ratio is 12.33%.

Analyst Ratings Changes

Several analysts have weighed in on WYNN shares. Wells Fargo & Company lowered their price objective on Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Morgan Stanley increased their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Barclays dropped their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Susquehanna increased their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a research note on Friday, October 11th. Finally, Macquarie reaffirmed an "outperform" rating and set a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.36.

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.