Savoir Faire Capital Management L.P. Has $1.32 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Savoir Faire Capital Management L.P. lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 56.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,802 shares of the casino operator's stock after selling 17,947 shares during the quarter. Savoir Faire Capital Management L.P.'s holdings in Wynn Resorts were worth $1,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts during the 2nd quarter valued at $25,000. Blue Trust Inc. raised its position in Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock worth $49,000 after acquiring an additional 467 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Wynn Resorts in the 2nd quarter valued at about $51,000. Covestor Ltd boosted its position in shares of Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator's stock valued at $64,000 after purchasing an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator's stock worth $74,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 68.87% of the company's stock.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 5,689 shares of the company's stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Susquehanna raised their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley boosted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus target price of $115.71.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded up $0.79 during mid-day trading on Tuesday, reaching $91.25. The company had a trading volume of 2,014,665 shares, compared to its average volume of 2,226,867. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock's 50 day moving average is $92.71 and its 200-day moving average is $88.13. The stock has a market capitalization of $10.02 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 3.26 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted 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 firm had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.99 earnings per share. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts's dividend payout ratio (DPR) is 12.33%.

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.