Shellback Capital LP Has $6.71 Million Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Shellback Capital LP trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 44.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the casino operator’s stock after selling 60,000 shares during the period. Shellback Capital LP owned about 0.07% of Wynn Resorts worth $6,712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WYNN. Sei Investments Co. raised its stake in shares of Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. bought a new position in shares of Wynn Resorts during the 1st quarter worth about $2,461,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at about $1,376,000. UniSuper Management Pty Ltd increased its stake in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after acquiring an additional 8,590 shares during the period. Finally, Vanguard Group Inc. raised its position in Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Up 8.2 %

Wynn Resorts stock opened at $91.03 on Friday. The business’s 50-day simple moving average is $78.34 and its 200 day simple moving average is $89.32. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 2.17 and a beta of 1.80. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is currently 13.70%.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent research reports. UBS Group raised Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company lowered their price target on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. reduced their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.20.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by insiders.

Wynn Resorts Company Profile

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.