Wynn Resorts, Limited $WYNN Position Increased by Nicholas Investment Partners LP

Nicholas Investment Partners LP raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 288.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,297 shares of the casino operator’s stock after buying an additional 15,074 shares during the period. Nicholas Investment Partners LP’s holdings in Wynn Resorts were worth $2,442,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. lifted its position in shares of Wynn Resorts by 54.9% in the 4th 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 in the last quarter. Cromwell Holdings LLC lifted its position in shares of Wynn Resorts by 68.2% in 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 in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $34,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Wynn Resorts by 69.0% in 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 in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WYNN shares. Susquehanna reduced their price target on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research report on Thursday, April 16th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Barclays reduced their price target on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Wells Fargo & Company set a $142.00 price target on shares of Wynn Resorts and gave the company an “overweight” rating in a research report on Sunday, May 10th. Finally, Mizuho reduced their price target on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Wynn Resorts Stock Down 0.4%

WYNN stock opened at $107.27 on Friday. Wynn Resorts, Limited has a 12-month low of $83.45 and a 12-month high of $134.72. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 1.00 and a beta of 0.98. The company has a 50 day moving average of $103.14 and a two-hundred day moving average of $110.57.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that Wynn Resorts, Limited will post 4.61 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts’s dividend payout ratio is presently 29.85%.

About Wynn Resorts

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.