Beech Hill Advisors Inc. reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 56.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the casino operator's stock after selling 3,250 shares during the period. Beech Hill Advisors Inc.'s holdings in Wynn Resorts were worth $215,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of WYNN. Fisher Asset Management LLC increased its holdings in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock worth $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock valued at $72,672,000 after buying an additional 755,236 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Wynn Resorts during the third quarter worth $58,486,000. Weiss Asset Management LP purchased a new stake in Wynn Resorts in the 3rd quarter valued at $19,753,000. Finally, Regal Partners Ltd lifted its stake in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock valued at $86,168,000 after acquiring an additional 174,005 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.
Analyst Upgrades and Downgrades
WYNN has been the subject of several recent analyst reports. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group dropped their price target on Wynn Resorts from $109.00 to $105.00 and set a "hold" rating on the stock in a report on Friday, January 3rd. 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 company's stock. According to data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus price target of $116.36.
View Our Latest Stock Report on Wynn Resorts
Wynn Resorts Stock Performance
NASDAQ WYNN traded up $0.09 during trading on Thursday, hitting $82.50. 1,844,759 shares of the company's stock traded hands, compared to its average volume of 2,318,046. The stock has a market capitalization of $9.06 billion, a price-to-earnings 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 business has a 50 day moving average of $89.05 and a 200-day moving average of $87.00.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly 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). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business's quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts expect that Wynn Resorts, Limited will post 4.73 EPS for the current year.
Wynn Resorts Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is presently 12.33%.
Wynn Resorts Company Profile
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Free Report)
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.
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