Wynn Resorts, Limited $WYNN Stock Position Reduced by Hodges Capital Management Inc.

Hodges Capital Management Inc. decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 73.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,637 shares of the casino operator’s stock after selling 73,550 shares during the quarter. Hodges Capital Management Inc.’s holdings in Wynn Resorts were worth $3,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WYNN. MUFG Securities EMEA plc acquired a new position in Wynn Resorts in the second quarter worth $25,000. Root Financial Partners LLC acquired a new stake in shares of Wynn Resorts during the third quarter worth $26,000. Manchester Capital Management LLC lifted its position in shares of Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after buying an additional 300 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of Wynn Resorts in the 2nd quarter worth about $31,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 0.9%

Shares of WYNN opened at $114.40 on Wednesday. The firm has a market capitalization of $11.89 billion, a PE ratio of 38.13, a P/E/G ratio of 9.79 and a beta of 1.06. The firm has a 50-day moving average price of $117.92 and a 200 day moving average price of $120.34. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Wynn Resorts had a negative return on equity of 38.04% and a net margin of 4.59%.The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. On average, equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, February 23rd. Wynn Resorts’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WYNN. Jefferies Financial Group increased their price objective on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Susquehanna reaffirmed a “positive” rating and set a $133.00 target price on shares of Wynn Resorts in a report on Thursday, February 12th. Morgan Stanley increased their price target on Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Wells Fargo & Company reduced their price objective on Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Macquarie Infrastructure restated an “outperform” rating and set a $143.00 price objective on shares of Wynn Resorts in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $139.20.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.