III Capital Management Has $2.34 Million Holdings in Wynn Resorts, Limited $WYNN

III Capital Management decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 16.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 25,000 shares of the casino operator’s stock after selling 5,000 shares during the period. Wynn Resorts comprises approximately 0.4% of III Capital Management’s portfolio, making the stock its 25th biggest holding. III Capital Management’s holdings in Wynn Resorts were worth $2,342,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WYNN. Bamco Inc. NY grew its position in Wynn Resorts by 56.5% in the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after purchasing an additional 482,570 shares during the last quarter. Norges Bank bought a new stake in shares of Wynn Resorts in the second quarter valued at about $106,289,000. Raymond James Financial Inc. grew its position in Wynn Resorts by 6.5% during the second quarter. Raymond James Financial Inc. now owns 1,056,019 shares of the casino operator’s stock worth $98,917,000 after buying an additional 63,997 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Wynn Resorts by 53.4% during the second quarter. DAVENPORT & Co LLC now owns 913,086 shares of the casino operator’s stock valued at $85,895,000 after acquiring an additional 317,850 shares during the period. Finally, Greenwich Wealth Management LLC bought a new stake in shares of Wynn Resorts in the 2nd quarter worth approximately $46,845,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Trading Down 1.0%

NASDAQ WYNN opened at $123.66 on Friday. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.72. The company has a 50 day moving average of $123.21 and a 200-day moving average of $113.78. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 8.57 and a beta of 1.10.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.23). The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio is presently 22.37%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WYNN. Stifel Nicolaus boosted their price objective on Wynn Resorts from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research lowered shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. UBS Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and increased their price objective for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Barclays lifted their target price on shares of Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Jefferies Financial Group increased their price target on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $139.15.

Wynn Resorts Company 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.