Lazari Capital Management Inc. Grows Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Lazari Capital Management Inc. boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 30.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,978 shares of the casino operator’s stock after purchasing an additional 2,573 shares during the quarter. Lazari Capital Management Inc.’s holdings in Wynn Resorts were worth $1,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WYNN. Norges Bank acquired a new stake in shares of Wynn Resorts in the 4th quarter worth $157,305,000. Invesco Ltd. boosted its position in shares of Wynn Resorts by 20.7% in the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after purchasing an additional 248,820 shares in the last quarter. Eminence Capital LP acquired a new stake in shares of Wynn Resorts in the 4th quarter worth $15,089,000. Honeycomb Asset Management LP acquired a new stake in shares of Wynn Resorts in the 4th quarter worth $13,666,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Wynn Resorts by 1,577.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 146,423 shares of the casino operator’s stock worth $13,531,000 after purchasing an additional 137,696 shares in the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Mizuho initiated coverage on Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Barclays lifted their price target on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, Citigroup lifted their price target on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.31.

Insiders Place Their Bets

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.52% of the stock is owned by company insiders.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock traded down $1.69 on Friday, hitting $88.80. The company’s stock had a trading volume of 2,688,620 shares, compared to its average volume of 1,434,853. Wynn Resorts, Limited has a 1 year low of $81.65 and a 1 year high of $112.25. The firm has a fifty day moving average price of $96.19 and a 200-day moving average price of $96.51. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 12.16 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business earned $0.29 EPS. Wynn Resorts’s revenue for the quarter was up 30.9% compared to the same quarter last year. As a group, analysts forecast that Wynn Resorts, Limited will post 5.58 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is currently 13.70%.

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.