Sustainable Insight Capital Management LLC Buys New Shares in Wynn Resorts, Limited $WYNN

Sustainable Insight Capital Management LLC bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 29,300 shares of the casino operator’s stock, valued at approximately $3,526,000. Wynn Resorts makes up approximately 1.2% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 27th largest position.

Other large investors also recently modified their holdings of the company. MUFG Securities EMEA plc purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at $25,000. Hantz Financial Services Inc. lifted its stake in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares in the last quarter. Cromwell Holdings LLC lifted its stake in shares of Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after buying an additional 103 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Wynn Resorts during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WYNN. Bank of America cut their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Susquehanna cut their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a report on Thursday, April 16th. Barclays cut their price objective on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Jefferies Financial Group cut their price objective on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Morgan Stanley cut their price objective on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $107.75 on Friday. The company has a market capitalization of $11.18 billion, a P/E ratio of 32.16, a P/E/G ratio of 0.98 and a beta of 0.98. Wynn Resorts, Limited has a one year low of $83.45 and a one year high of $134.72. The stock has a 50 day moving average price of $103.05 and a 200-day moving average price of $110.59.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm 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 quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.61 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

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.