Lighthouse Investment Partners LLC Sells 30,000 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Lighthouse Investment Partners LLC reduced its position in Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 60.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the casino operator’s stock after selling 30,000 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Wynn Resorts were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in Wynn Resorts by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock valued at $358,183,000 after purchasing an additional 20,091 shares in the last quarter. Norges Bank purchased a new stake in Wynn Resorts during the fourth quarter valued at $157,305,000. Invesco Ltd. raised its stake in Wynn Resorts by 20.7% during the third quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock valued at $133,908,000 after purchasing an additional 248,820 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Wynn Resorts by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,178 shares of the casino operator’s stock valued at $70,809,000 after purchasing an additional 2,930 shares in the last quarter. Finally, Bamco Inc. NY increased its position in Wynn Resorts by 25.7% during the third quarter. Bamco Inc. NY now owns 644,474 shares of the casino operator’s stock valued at $59,556,000 after acquiring an additional 131,937 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $92.87 on Tuesday. Wynn Resorts, Limited has a 1-year low of $81.65 and a 1-year high of $112.25. The stock has a 50-day moving average of $97.73 and a two-hundred day moving average of $96.43. The company has a market cap of $10.41 billion, a P/E ratio of 12.72 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. On average, analysts anticipate that Wynn Resorts, Limited will post 5.58 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s payout ratio is 13.70%.

Analyst Ratings Changes

A number of research analysts have weighed in on WYNN shares. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Citigroup upped their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Seaport Res Ptn upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Finally, Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.31.

Check Out Our Latest Stock Report on Wynn Resorts

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Wynn Resorts Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNNFree Report).

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

Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.