Kettle Hill Capital Management LLC Has $34.47 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Kettle Hill Capital Management LLC increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 306.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 400,006 shares of the casino operator’s stock after purchasing an additional 301,594 shares during the quarter. Wynn Resorts makes up about 7.5% of Kettle Hill Capital Management LLC’s holdings, making the stock its 2nd biggest position. Kettle Hill Capital Management LLC owned approximately 0.36% of Wynn Resorts worth $34,465,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WYNN. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts in the third quarter valued at approximately $31,000. Principal Financial Group Inc. grew its stake in Wynn Resorts by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock valued at $10,361,000 after purchasing an additional 2,001 shares during the period. Czech National Bank increased its position in shares of Wynn Resorts by 5.3% during the 4th quarter. Czech National Bank now owns 20,059 shares of the casino operator’s stock valued at $1,728,000 after purchasing an additional 1,010 shares during the last quarter. Wedmont Private Capital raised its position in Wynn Resorts by 7.5% in the fourth quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator’s stock worth $214,000 after acquiring an additional 183 shares during the period. Finally, Oak Thistle LLC purchased a new position in Wynn Resorts in the fourth quarter valued at about $3,088,000. 88.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WYNN. Macquarie reiterated an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report 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 target on the stock in a report on Wednesday. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Citigroup upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $112.92.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tilman J. Fertitta bought 5,025 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the acquisition, the insider now directly owns 10,905,025 shares of the company’s stock, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 438,700 shares of company stock worth $31,300,943 over the last three months. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Up 1.5 %

Shares of Wynn Resorts stock opened at $87.93 on Friday. The firm has a market capitalization of $9.34 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81. The business’s 50-day moving average price is $80.65 and its 200-day moving average price is $85.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. During the same period last year, the business posted $1.59 earnings per share. The company’s revenue was down 8.7% compared to the same quarter last year. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts’s dividend payout ratio is presently 27.78%.

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.