Engineers Gate Manager LP Buys New Stake in Wynn Resorts, Limited $WYNN

Engineers Gate Manager LP purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 155,748 shares of the casino operator’s stock, valued at approximately $18,741,000.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Wynn Resorts by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock valued at $665,000 after buying an additional 754 shares in the last quarter. Woodline Partners LP raised its stake in shares of Wynn Resorts by 36.2% during the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after purchasing an additional 2,012 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Wynn Resorts by 13.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after purchasing an additional 201 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in Wynn Resorts by 9.5% during the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock valued at $937,000 after purchasing an additional 868 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $102.31 on Thursday. Wynn Resorts, Limited has a 1 year low of $86.53 and a 1 year high of $134.72. The firm’s 50-day simple moving average is $103.24 and its 200-day simple moving average is $109.95. The firm has a market cap of $10.62 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $1.07 earnings per share. On average, equities analysts predict 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. Investors of record on Monday, May 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio is currently 29.85%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several analyst reports. Bank of America dropped their price target 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research note on Friday, May 8th. Mizuho cut their price target on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Citigroup reduced their price target on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, UBS Group restated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

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.