AXQ Capital LP Has $592,000 Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

AXQ Capital LP reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,870 shares of the casino operator’s stock after selling 1,653 shares during the quarter. AXQ Capital LP’s holdings in Wynn Resorts were worth $592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WYNN. Fisher Asset Management LLC lifted its holdings in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the last quarter. Geode Capital Management LLC grew its stake in Wynn Resorts by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after buying an additional 34,907 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Wynn Resorts by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after buying an additional 5,032 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $75,872,000. Finally, Holocene Advisors LP boosted its holdings in shares of Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after acquiring an additional 755,236 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and raised their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Morgan Stanley cut their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Finally, Barclays increased their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Two investment 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 company. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $82.63 on Friday. The firm’s 50 day moving average price is $85.71 and its two-hundred day moving average price is $88.92. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market cap of $8.79 billion, a PE ratio of 19.63, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

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.