AXQ Capital LP Takes $895,000 Position in Wynn Resorts, Limited $WYNN

AXQ Capital LP purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,435 shares of the casino operator’s stock, valued at approximately $895,000.

Other institutional investors also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new stake in Wynn Resorts during the second quarter worth about $25,000. Hantz Financial Services Inc. boosted its stake in Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 89 shares during the last quarter. Cromwell Holdings LLC grew its position in shares of Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $34,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the topic of several research reports. Bank of America lowered their target price on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Mizuho decreased their price objective on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Jefferies Financial Group lowered their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Barclays dropped their price objective on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Susquehanna reduced their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research note on Thursday, April 16th. One investment 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 stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Stock Down 1.8%

Wynn Resorts stock opened at $104.62 on Wednesday. Wynn Resorts, Limited has a 52 week low of $82.63 and a 52 week high of $134.72. The business has a 50-day simple moving average of $102.19 and a 200 day simple moving average of $111.43. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 0.98 and a beta of 0.98.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. On average, research analysts anticipate that Wynn Resorts, Limited will post 4.68 earnings per share 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

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.