BlueMountain Capital Management LLC Cuts Holdings in Wynn Resorts, Limited (WYNN)

BlueMountain Capital Management LLC reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 80.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,796 shares of the casino operator’s stock after selling 27,888 shares during the period. BlueMountain Capital Management LLC’s holdings in Wynn Resorts were worth $1,137,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WYNN. Winslow Capital Management LLC purchased a new stake in Wynn Resorts during the 1st quarter worth approximately $184,340,000. BlackRock Inc. increased its stake in Wynn Resorts by 12.6% during the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after buying an additional 641,845 shares in the last quarter. FMR LLC increased its stake in Wynn Resorts by 491.2% during the 2nd quarter. FMR LLC now owns 625,891 shares of the casino operator’s stock worth $104,737,000 after buying an additional 520,025 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Wynn Resorts during the 2nd quarter worth approximately $44,659,000. Finally, Interval Partners LP purchased a new stake in Wynn Resorts during the 1st quarter worth approximately $35,560,000. Institutional investors own 75.26% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. ValuEngine lowered Wynn Resorts from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. BidaskClub lowered Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Jefferies Financial Group lowered Wynn Resorts from a “buy” rating to a “hold” rating and set a $170.00 price target for the company. in a research report on Tuesday, August 14th. Credit Suisse Group assumed coverage on Wynn Resorts in a research report on Tuesday, August 14th. They issued a “neutral” rating and a $155.00 price target for the company. Finally, Argus lowered Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 price target for the company. in a research report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $189.63.

WYNN opened at $135.18 on Friday. Wynn Resorts, Limited has a one year low of $126.96 and a one year high of $203.63. The company has a market capitalization of $14.50 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.42. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Wednesday, August 1st. The casino operator reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.43). Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. analysts anticipate that Wynn Resorts, Limited will post 7.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 28th. Investors of record on Thursday, August 16th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Wednesday, August 15th. Wynn Resorts’s dividend payout ratio is presently 54.95%.

Wynn Resorts Company Profile

Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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