Westfield Capital Management Co. LP Boosts Stake in Wynn Resorts, Limited $WYNN

Westfield Capital Management Co. LP grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 581,717 shares of the casino operator’s stock after buying an additional 8,023 shares during the period. Westfield Capital Management Co. LP’s holdings in Wynn Resorts were worth $69,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WYNN. MUFG Securities EMEA plc purchased a new position in shares of Wynn Resorts in the second quarter worth $25,000. Hantz Financial Services Inc. increased its stake in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares during the period. Cromwell Holdings LLC increased its stake in shares of Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Up 0.8%

Shares of WYNN opened at $104.48 on Friday. Wynn Resorts, Limited has a 52-week low of $82.64 and a 52-week high of $134.72. The firm’s fifty day moving average is $102.43 and its two-hundred day moving average is $110.99. The stock has a market cap of $10.84 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98.

Wynn Resorts (NASDAQ:WYNN) last announced its 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 quarter in the previous year, the company posted $1.07 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts anticipate that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 29.85%.

Analysts Set New Price Targets

WYNN has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Wells Fargo & Company set a $142.00 target price on shares of Wynn Resorts and gave the stock an “overweight” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. lowered their target price on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research note on Friday, May 8th. Finally, Bank of America lowered 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 note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $140.00.

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.