Egerton Capital UK LLP Acquires New Shares in Wynn Resorts, Limited $WYNN

Egerton Capital UK LLP acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,069,751 shares of the casino operator’s stock, valued at approximately $249,053,000. Wynn Resorts makes up approximately 2.7% of Egerton Capital UK LLP’s portfolio, making the stock its 15th biggest position. Egerton Capital UK LLP owned 1.99% of Wynn Resorts as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WYNN. Palidye Holdings Caymans Ltd bought a new position in Wynn Resorts in the second quarter worth about $104,629,000. Norges Bank bought a new position in Wynn Resorts in the fourth quarter worth about $122,696,000. Zurich Insurance Group Ltd FI bought a new position in Wynn Resorts in the third quarter worth about $110,213,000. Westfield Capital Management Co. LP bought a new position in Wynn Resorts in the third quarter worth about $73,588,000. Finally, Barclays PLC increased its holdings in shares of Wynn Resorts by 121.3% during the third quarter. Barclays PLC now owns 506,945 shares of the casino operator’s stock valued at $65,026,000 after acquiring an additional 277,917 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $104.48 on Monday. The business’s 50 day moving average price is $102.43 and its 200 day moving average price is $110.94. The firm has a market cap of $10.84 billion, a P/E ratio of 31.19, a P/E/G ratio of 0.97 and a beta of 0.98. Wynn Resorts, Limited has a 52 week low of $82.64 and a 52 week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, research analysts expect that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s dividend payout ratio is currently 29.85%.

Analysts Set New Price Targets

WYNN has been the topic of several recent analyst reports. Wells Fargo & Company set a $142.00 price objective on shares of Wynn Resorts and gave the company an “overweight” rating in a report on Sunday, May 10th. Stifel Nicolaus cut their price objective on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a report on Friday, May 8th. Susquehanna dropped their target price on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research report on Thursday, April 16th. Finally, Jefferies Financial Group dropped their target price on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Wynn Resorts Profile

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.