III Capital Management Has $2.34 Million Stock Holdings in Wynn Resorts, Limited $WYNN

III Capital Management decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the casino operator’s stock after selling 5,000 shares during the quarter. Wynn Resorts accounts for approximately 0.4% of III Capital Management’s holdings, making the stock its 25th biggest position. III Capital Management’s holdings in Wynn Resorts were worth $2,342,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Biglari Capital CORP. grew its stake in Wynn Resorts by 3.6% during the 2nd quarter. Biglari Capital CORP. now owns 143,801 shares of the casino operator’s stock valued at $13,470,000 after acquiring an additional 5,000 shares in the last quarter. Biglari Sardar boosted its holdings in shares of Wynn Resorts by 14.7% during the second quarter. Biglari Sardar now owns 70,200 shares of the casino operator’s stock worth $6,576,000 after purchasing an additional 9,000 shares during the period. Boothbay Fund Management LLC boosted its holdings in shares of Wynn Resorts by 12.8% during the second quarter. Boothbay Fund Management LLC now owns 15,114 shares of the casino operator’s stock worth $1,416,000 after purchasing an additional 1,715 shares during the period. Brevan Howard Capital Management LP purchased a new position in Wynn Resorts during the second quarter valued at approximately $2,399,000. Finally, Bamco Inc. NY increased its stake in Wynn Resorts by 56.5% in the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after buying an additional 482,570 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

WYNN opened at $123.66 on Friday. The firm has a market cap of $12.86 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 8.57 and a beta of 1.10. The business has a 50 day moving average price of $123.21 and a 200 day moving average price of $113.78. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were paid a $0.25 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WYNN shares. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday. Barclays upped their target price on Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Wednesday, September 3rd. Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, The Goldman Sachs Group set a $145.00 target price on shares of Wynn Resorts in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.15.

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.