Night Squared LP Grows Position in Wynn Resorts, Limited $WYNN

Night Squared LP raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 11.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 55,526 shares of the casino operator’s stock after acquiring an additional 5,900 shares during the quarter. Wynn Resorts comprises approximately 1.9% of Night Squared LP’s holdings, making the stock its 24th biggest position. Night Squared LP’s holdings in Wynn Resorts were worth $6,681,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WYNN. Egerton Capital UK LLP purchased a new stake in Wynn Resorts during the fourth quarter valued at about $249,053,000. Palidye Holdings Caymans Ltd purchased a new stake in Wynn Resorts during the second quarter valued at about $104,629,000. Norges Bank purchased a new stake in Wynn Resorts during the fourth quarter valued at about $122,696,000. Zurich Insurance Group Ltd FI purchased a new stake in Wynn Resorts during the third quarter valued at about $110,213,000. Finally, Westfield Capital Management Co. LP purchased a new stake in Wynn Resorts during the third quarter valued at about $73,588,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Mizuho dropped their price objective on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their price objective on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Bank of America dropped their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, May 11th. UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a report on Friday, May 8th. 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 stock. According to data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Wynn Resorts Trading Down 2.2%

Shares of Wynn Resorts stock opened at $103.67 on Wednesday. Wynn Resorts, Limited has a 12-month low of $86.53 and a 12-month high of $134.72. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 0.99 and a beta of 0.98. The company’s 50-day moving average price is $103.25 and its 200-day moving average price is $110.15.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts predict that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Announces Dividend

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