Graham Capital Management L.P. Makes New $672,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Graham Capital Management L.P. acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, Holdings Channel reports. The fund acquired 7,794 shares of the casino operator’s stock, valued at approximately $672,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WYNN. Norges Bank bought a new position in Wynn Resorts during the fourth quarter valued at $117,352,000. Jericho Capital Asset Management L.P. bought a new position in shares of Wynn Resorts in the 4th quarter valued at about $101,375,000. Raymond James Financial Inc. bought a new position in shares of Wynn Resorts in the 4th quarter valued at about $75,872,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after acquiring an additional 485,204 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Wynn Resorts by 108.5% during the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator’s stock worth $73,118,000 after acquiring an additional 441,558 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WYNN. Morgan Stanley lowered their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Bank of America raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, May 7th. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research note on Wednesday, May 7th. Mizuho dropped their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $112.92.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $97.49 on Thursday. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The firm has a 50-day moving average of $81.09 and a two-hundred day moving average of $85.85. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 EPS. Research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts’s payout ratio is 27.78%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the purchase, the insider now owns 13,000,000 shares in the company, valued at approximately $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is currently owned by corporate insiders.

About Wynn Resorts

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.