Mirador Capital Partners LP Invests $2 Million in Wynn Resorts, Limited $WYNN

Mirador Capital Partners LP acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,646 shares of the casino operator’s stock, valued at approximately $2,003,000.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Wynn Resorts in the 2nd quarter valued at about $106,289,000. Pacific Heights Asset Management LLC boosted its position in shares of Wynn Resorts by 30.4% in the third quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator’s stock worth $19,240,000 after acquiring an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Wynn Resorts by 19.1% in the third quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator’s stock valued at $114,374,000 after purchasing an additional 142,892 shares during the period. Rakuten Investment Management Inc. purchased a new stake in Wynn Resorts in the third quarter valued at approximately $51,163,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in Wynn Resorts during the third quarter worth approximately $1,347,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WYNN shares. Barclays increased their price target on shares of Wynn Resorts from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Mizuho upped their price objective on Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Susquehanna reaffirmed a “positive” rating and issued a $133.00 target price on shares of Wynn Resorts in a research report on Thursday, February 12th. Macquarie Infrastructure reissued an “outperform” rating and set a $143.00 price target on shares of Wynn Resorts in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.87.

Wynn Resorts Trading Down 2.9%

Shares of Wynn Resorts stock opened at $96.59 on Friday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 11.27 and a beta of 1.01. The company has a fifty day moving average price of $108.14 and a 200 day moving average price of $118.07.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business earned $2.42 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts’s dividend payout ratio (DPR) is presently 33.33%.

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.