Orvieto Partners L.P. Sells 20,000 Shares of Wynn Resorts, Limited $WYNN

Orvieto Partners L.P. decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 44.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 25,000 shares of the casino operator’s stock after selling 20,000 shares during the period. Wynn Resorts accounts for 2.2% of Orvieto Partners L.P.’s holdings, making the stock its 17th biggest position. Orvieto Partners L.P.’s holdings in Wynn Resorts were worth $2,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. grew its stake in 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 purchasing an additional 89 shares during the period. Horizon Investments LLC lifted its stake in Wynn Resorts by 6.7% in the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after purchasing an additional 94 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Wynn Resorts by 4.9% in the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock valued at $210,000 after purchasing an additional 96 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of 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 boosted its position in Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Up 2.5%

NASDAQ:WYNN opened at $96.77 on Friday. The firm has a market capitalization of $10.04 billion, a P/E ratio of 28.89, a P/E/G ratio of 0.92 and a beta of 0.99. The company has a fifty day moving average of $100.18 and a 200 day moving average of $105.02. Wynn Resorts, Limited has a 52 week low of $92.52 and a 52 week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm earned $1.07 earnings per share. Wynn Resorts’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, analysts anticipate that Wynn Resorts, Limited will post 4.52 EPS for the current year.

Wynn Resorts Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial started coverage on Wynn Resorts in a research report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price target for the company. Jefferies Financial Group lowered their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. The Goldman Sachs Group set a $120.00 target price on shares of Wynn Resorts in a research report on Wednesday, July 15th. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.94.

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.