100,425 Shares in Wynn Resorts, Limited $WYNN Acquired by Westend Capital Management LLC

Key Points

• Westend Capital purchased a new position of 100,425 shares of Wynn Resorts (NASDAQ:WYNN) in Q4, worth about $12.08 million, representing ~3.4% of Westend’s holdings and its 17th-largest position (Westend owns ~0.10% of Wynn).
• Institutional ownership of Wynn is high at 88.64%, with multiple funds (e.g., Franklin Resources, Prudential, MIRAE Asset, Woodline Partners) recently increasing their stakes.
• Wynn has a market cap of roughly $10.07 billion, recently missed quarterly EPS estimates ($1.17 vs. $1.33), pays a $0.25 quarterly dividend (1.0% yield), and has a MarketBeat consensus of "Moderate Buy" with an average target of $138.87.

Westend Capital Management LLC bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,425 shares of the casino operator's stock, valued at approximately $12,084,000. Wynn Resorts makes up about 3.4% of Westend Capital Management LLC's holdings, making the stock its 17th biggest position. Westend Capital Management LLC owned approximately 0.10% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock valued at $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP raised its position in Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock worth $632,000 after purchasing an additional 2,012 shares during the period. Geneos Wealth Management Inc. lifted its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after purchasing an additional 156 shares during the last quarter. Franklin Resources Inc. boosted its position in Wynn Resorts by 48.1% during the second quarter. Franklin Resources Inc. now owns 22,414 shares of the casino operator's stock valued at $2,100,000 after buying an additional 7,277 shares during the period. Finally, Prudential Financial Inc. boosted its position in Wynn Resorts by 3.2% during the second quarter. Prudential Financial Inc. now owns 51,571 shares of the casino operator's stock valued at $4,831,000 after buying an additional 1,592 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $96.77 on Tuesday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72. The stock's 50-day moving average is $107.78 and its 200 day moving average is $117.82. The company has a market cap of $10.07 billion, a PE ratio of 32.26, a P/E/G ratio of 10.94 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data 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). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the business posted $2.42 earnings per share. Wynn Resorts's quarterly revenue was up 1.5% compared to the same quarter last year. Analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were issued a $0.25 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts's payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Susquehanna reiterated a "positive" rating and issued a $133.00 price objective on shares of Wynn Resorts in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $144.00 price target on Wynn Resorts in a research note on Friday, February 13th. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $138.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, December 8th. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Wynn Resorts in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $138.87.

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.

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