Westend Capital Management LLC Takes Position in Wynn Resorts, Limited $WYNN

Westend Capital Management LLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 100,425 shares of the casino operator’s stock, valued at approximately $12,084,000. Wynn Resorts makes up 3.4% of Westend Capital Management LLC’s holdings, making the stock its 17th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of WYNN. MUFG Securities EMEA plc purchased a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. Root Financial Partners LLC bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $26,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $31,000. Atlantic Edge Private Wealth Management LLC grew its stake in Wynn Resorts by 400.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock worth $32,000 after purchasing an additional 200 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Wynn Resorts by 69.0% in the first 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. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $96.77 on Tuesday. The business has a fifty day moving average price of $107.78 and a 200-day moving average price of $117.82. The company has a market capitalization of $10.07 billion, a PE ratio of 32.26, a PEG ratio of 10.94 and a beta of 1.01. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

WYNN has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Jefferies Financial Group lifted their price target on shares of Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Wells Fargo & Company dropped their price objective on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, UBS Group restated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.87.

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.