Duality Advisers LP Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Duality Advisers LP bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,104 shares of the casino operator’s stock, valued at approximately $1,194,000.

Several other hedge funds also recently bought and sold shares of WYNN. AE Wealth Management LLC boosted its position in shares of Wynn Resorts by 17.7% during the third quarter. AE Wealth Management LLC now owns 4,025 shares of the casino operator’s stock worth $372,000 after acquiring an additional 606 shares during the last quarter. DnB Asset Management AS grew its holdings in Wynn Resorts by 62.7% during the 3rd quarter. DnB Asset Management AS now owns 23,116 shares of the casino operator’s stock valued at $2,136,000 after purchasing an additional 8,908 shares during the last quarter. Czech National Bank lifted its stake in Wynn Resorts by 38.1% in the third quarter. Czech National Bank now owns 16,927 shares of the casino operator’s stock worth $1,564,000 after purchasing an additional 4,669 shares during the last quarter. Alta Wealth Advisors LLC raised its holdings in shares of Wynn Resorts by 52.9% in the third quarter. Alta Wealth Advisors LLC now owns 6,620 shares of the casino operator’s stock worth $612,000 after buying an additional 2,289 shares during the period. Finally, Townsend Asset Management Corp NC ADV lifted its stake in shares of Wynn Resorts by 1.2% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 40,814 shares of the casino operator’s stock worth $3,772,000 after acquiring an additional 481 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on WYNN. Morgan Stanley upped their price objective on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Barclays upped their target price on Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Mizuho started coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $121.43.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $98.82 on Wednesday. The business has a fifty day moving average price of $102.01 and a 200-day moving average price of $95.04. Wynn Resorts, Limited has a 1-year low of $81.65 and a 1-year high of $117.86. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 16.53 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company earned ($1.23) earnings per share. The company’s quarterly revenue was up 83.1% on a year-over-year basis. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Wynn Resorts’s payout ratio is 16.72%.

Insider Buying and Selling at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the transaction, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,578 shares of company stock worth $2,850,282. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Profile

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.