Entropy Technologies LP Acquires New Holdings in Wynn Resorts, Limited $WYNN

Entropy Technologies LP purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 43,973 shares of the casino operator’s stock, valued at approximately $4,465,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the 2nd quarter valued at about $25,000. Hantz Financial Services Inc. raised its position in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares during the last quarter. SHP Wealth Management purchased a new stake in shares of Wynn Resorts during the fourth quarter valued at $32,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 156 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN opened at $96.92 on Friday. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 0.95 and a beta of 0.99. Wynn Resorts, Limited has a fifty-two week low of $92.52 and a fifty-two week high of $134.72. The business’s 50-day moving average is $100.21 and its 200-day moving average is $104.96.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 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 business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts expect that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on WYNN shares. Jefferies Financial Group cut their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Susquehanna decreased their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a report on Thursday, April 16th. Stifel Nicolaus dropped their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. The Goldman Sachs Group set a $120.00 price target on shares of Wynn Resorts in a report on Wednesday, July 15th. Finally, Barclays reduced their price target on shares of Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.94.

Wynn Resorts Company 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.