Night Squared LP Acquires 5,900 Shares of Wynn Resorts, Limited $WYNN

Night Squared LP raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,526 shares of the casino operator’s stock after purchasing an additional 5,900 shares during the quarter. Wynn Resorts accounts for approximately 1.9% of Night Squared LP’s portfolio, making the stock its 24th largest position. Night Squared LP owned about 0.05% of Wynn Resorts worth $6,681,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its holdings in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Wynn Resorts during the 2nd quarter worth $25,000. International Assets Investment Management LLC purchased a new position in Wynn Resorts during the 4th quarter worth $34,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $103.67 on Wednesday. The company’s 50-day moving average is $103.25 and its 200 day moving average is $110.15. The company has a market capitalization of $10.76 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. Wynn Resorts, Limited has a fifty-two week low of $86.53 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. As a group, research analysts predict that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s payout ratio is 29.85%.

Analyst Ratings Changes

A number of research firms have issued reports on WYNN. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a report on Friday, May 8th. Mizuho cut their price objective on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. JPMorgan Chase & Co. cut their price objective on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Morgan Stanley cut their price objective on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, Susquehanna cut their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.