Armistice Capital LLC Grows Stock Position in Wynn Resorts, Limited $WYNN

Armistice Capital LLC increased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 50.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,190 shares of the casino operator’s stock after buying an additional 59,246 shares during the period. Armistice Capital LLC owned about 0.17% of Wynn Resorts worth $21,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Cromwell Holdings LLC increased its position in Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after purchasing an additional 103 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in Wynn Resorts during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $34,000. Finally, Geneos Wealth Management Inc. grew its position in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WYNN shares. UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. Bank of America reduced their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Citigroup reduced their price objective on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Mizuho cut their target price on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Finally, Susquehanna cut their target price on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. One investment 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Stock Down 1.3%

NASDAQ:WYNN opened at $102.31 on Thursday. The business’s 50-day moving average price is $103.24 and its 200 day moving average price is $109.95. The firm has a market cap of $10.62 billion, a P/E ratio of 30.54, a PEG ratio of 0.97 and a beta of 0.98. Wynn Resorts, Limited has a 52-week low of $86.53 and a 52-week high of $134.72.

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

Wynn Resorts Dividend Announcement

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

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.