Wedmont Private Capital Grows Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Wedmont Private Capital boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,638 shares of the casino operator’s stock after buying an additional 183 shares during the quarter. Wedmont Private Capital’s holdings in Wynn Resorts were worth $214,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WYNN. Fisher Asset Management LLC lifted its position in shares of Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Geode Capital Management LLC lifted its stake in Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after purchasing an additional 34,907 shares during the last quarter. Regal Partners Ltd boosted its stake in shares of Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares during the period. Holocene Advisors LP boosted its holdings in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Wynn Resorts by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock valued at $59,874,000 after buying an additional 10,465 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Jefferies Financial Group cut their target price on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th. Susquehanna boosted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.23.

Wynn Resorts Stock Up 2.6 %

Shares of Wynn Resorts stock opened at $84.67 on Friday. The firm has a market cap of $9.30 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.40 and a beta of 1.77. The business’s fifty day simple moving average is $88.96 and its 200-day simple moving average is $86.95. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Wynn Resorts, Limited will post 4.73 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

About Wynn Resorts

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.