Wynn Resorts, Limited $WYNN Shares Bought by Regal Partners Ltd

Regal Partners Ltd boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 897,646 shares of the casino operator’s stock after purchasing an additional 92,000 shares during the period. Wynn Resorts makes up about 5.0% of Regal Partners Ltd’s portfolio, making the stock its 8th biggest position. Regal Partners Ltd’s holdings in Wynn Resorts were worth $91,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hantz Financial Services Inc. lifted its stake 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 buying an additional 89 shares during the period. Horizon Investments LLC raised its stake in Wynn Resorts by 6.7% in the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock worth $180,000 after acquiring an additional 94 shares during the last quarter. QRG Capital Management Inc. raised its stake in Wynn Resorts by 4.9% in the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock worth $210,000 after acquiring an additional 96 shares during the last quarter. Parallel Advisors LLC lifted its position in Wynn Resorts by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after acquiring an additional 100 shares during the period. Finally, Cromwell Holdings LLC grew its stake in 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 purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts News Roundup

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn Resorts and Marjan have broken ground on Wynn Al Marjan Island in Ras Al Khaimah, advancing the company’s first integrated resort in the UAE. The project could provide a long-term growth opportunity through geographic diversification and exposure to the developing Middle Eastern gaming and tourism market. Marjan and Wynn Resorts break ground on Janu Al Marjan Island
• Positive Sentiment: Mizuho lowered its Wynn Resorts price target from $133 to $125 but maintained an Outperform rating. The revised target still implies substantial upside, suggesting the analyst believes the recent pullback has created an attractive entry point despite more cautious estimates. Mizuho lowers Wynn Resorts price target
• Neutral Sentiment: The Neon Museum will host an October event featuring former Wynn Resorts chairman Steve Wynn discussing how The Mirage changed Las Vegas. The event may generate publicity around Wynn’s Las Vegas legacy, but it is not expected to have a meaningful direct financial effect on Wynn Resorts. The Neon Museum to present Reflections of the Mirage
• Negative Sentiment: Analysts expect Wynn Resorts to report a year-over-year earnings decline in its upcoming results. Zacks says the company lacks the typical combination of positive earnings revisions and estimate momentum associated with a likely earnings beat, increasing the risk of disappointing guidance or results. Analysts estimate Wynn Resorts to report a decline in earnings

Analyst Ratings Changes

Several brokerages have recently issued reports on WYNN. Stifel Nicolaus reduced their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. 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. The Goldman Sachs Group set a $120.00 price objective on shares of Wynn Resorts in a report on Wednesday, July 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $135.44.

Wynn Resorts Stock Down 0.7%

NASDAQ:WYNN opened at $99.02 on Wednesday. The stock has a market capitalization of $10.28 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. Wynn Resorts, Limited has a 52 week low of $92.52 and a 52 week high of $134.72. The stock’s 50-day moving average price is $100.38 and its 200-day moving average price is $104.59.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. Wynn Resorts’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. Sell-side analysts expect that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

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

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.