Root Financial Partners LLC Increases Position in Wynn Resorts, Limited $WYNN

Root Financial Partners LLC raised its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 3,311.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,994 shares of the casino operator’s stock after purchasing an additional 6,789 shares during the period. Root Financial Partners LLC’s holdings in Wynn Resorts were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of WYNN. Palidye Holdings Caymans Ltd purchased a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $104,629,000. Norges Bank purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $122,696,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at $110,213,000. Westfield Capital Management Co. LP acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at $73,588,000. Finally, Barclays PLC boosted its holdings in shares of Wynn Resorts by 121.3% in the 3rd quarter. Barclays PLC now owns 506,945 shares of the casino operator’s stock valued at $65,026,000 after buying an additional 277,917 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $106.53 on Tuesday. Wynn Resorts, Limited has a 12-month low of $82.63 and a 12-month high of $134.72. The stock has a market capitalization of $11.06 billion, a P/E ratio of 31.80, a P/E/G ratio of 0.93 and a beta of 0.98. The firm’s 50-day moving average is $102.19 and its two-hundred day moving average is $111.43.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, analysts forecast that Wynn Resorts, Limited will post 4.68 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WYNN. Morgan Stanley lowered their target price on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. UBS Group restated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Jefferies Financial Group lowered their target price on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 6th. Mizuho lowered their target price on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Finally, Wells Fargo & Company set a $142.00 target price on shares of Wynn Resorts and gave the company an “overweight” rating in a report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.