Picton Mahoney Asset Management Takes Position in Wynn Resorts, Limited $WYNN

Picton Mahoney Asset Management bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,190 shares of the casino operator’s stock, valued at approximately $1,563,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 worth $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP increased its stake in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after buying an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. AlphaQuest LLC lifted its position in Wynn Resorts by 220.7% during the 2nd quarter. AlphaQuest LLC now owns 943 shares of the casino operator’s stock worth $88,000 after buying an additional 649 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Wynn Resorts by 19.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,848 shares of the casino operator’s stock worth $2,043,000 after acquiring an additional 3,602 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $105.37 on Friday. The firm’s 50 day simple moving average is $113.91 and its 200 day simple moving average is $120.16. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.72. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 12.24 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. Equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a $0.25 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WYNN shares. Morgan Stanley decreased their price target on shares of Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Mizuho increased their price objective on Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Zacks Research cut Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Finally, Texas Capital raised Wynn Resorts to a “strong-buy” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.87.

Wynn Resorts Company 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.