Patton Fund Management Inc. Buys 17,241 Shares of Wynn Resorts, Limited $WYNN

Patton Fund Management Inc. boosted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 642.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,923 shares of the casino operator’s stock after acquiring an additional 17,241 shares during the period. Patton Fund Management Inc.’s holdings in Wynn Resorts were worth $2,397,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new stake in Wynn Resorts in the second quarter valued at $25,000. Root Financial Partners LLC bought a new stake in Wynn Resorts in the third quarter valued at $26,000. Steigerwald Gordon & Koch Inc. bought a new stake in Wynn Resorts in the third quarter valued at $31,000. Cromwell Holdings LLC boosted its holdings in Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in Wynn Resorts by 400.0% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after buying an additional 200 shares during the period. Institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Susquehanna restated a “positive” rating and set a $133.00 target price on shares of Wynn Resorts in a report on Thursday, February 12th. Morgan Stanley dropped their price target on shares of Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Mizuho upped their price target on shares of Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, Deutsche Bank Aktiengesellschaft set a $144.00 price target on shares of Wynn Resorts in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.53.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $103.06 on Tuesday. Wynn Resorts, Limited has a fifty-two week low of $71.77 and a fifty-two week high of $134.72. The business has a 50-day simple moving average of $105.95 and a two-hundred day simple moving average of $116.25. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 8.85 and a beta of 1.04.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company earned $2.42 EPS. Wynn Resorts’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio is presently 33.33%.

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.