143,801 Shares in Wynn Resorts, Limited $WYNN Acquired by Biglari Capital CORP.

Key Points

• Biglari Capital acquired 143,801 shares of Wynn Resorts in the second quarter, worth approximately $14.0 million, giving it a 0.14% stake and making Wynn its fifth-largest holding.
• Wynn Resorts reported quarterly EPS of $1.24, beating estimates by $0.25, while revenue rose 6.9% year over year to $1.86 billion. Institutional investors own 88.64% of the company.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annual payout and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $134.19 versus the stock’s $98.74 opening price.

Biglari Capital CORP. bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 143,801 shares of the casino operator's stock, valued at approximately $13,961,639,000. Wynn Resorts makes up about 1.2% of Biglari Capital CORP.'s holdings, making the stock its 5th biggest position. Biglari Capital CORP. owned approximately 0.14% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Wynn Resorts by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock worth $665,000 after acquiring an additional 754 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock valued at $632,000 after purchasing an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Wynn Resorts by 69.0% in the 1st 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 period. Northwestern Mutual Wealth Management Co. raised its position in Wynn Resorts by 13.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator's stock worth $155,000 after purchasing an additional 201 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in Wynn Resorts by 9.5% in the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator's stock worth $937,000 after purchasing an additional 868 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of WYNN opened at $98.74 on Wednesday. The company has a 50-day simple moving average of $99.55 and a two-hundred day simple moving average of $102.77. The firm has a market capitalization of $10.17 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.01. Wynn Resorts, Limited has a one year low of $92.52 and a one year high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The business's revenue was up 6.9% compared to the same quarter last year. Analysts expect that Wynn Resorts, Limited will post 4.63 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Wynn Resorts's dividend payout ratio (DPR) is 24.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and issued a $128.00 target price on shares of Wynn Resorts in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their price target on Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Wells Fargo & Company lowered their price objective on Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $134.19.

Wynn Resorts Company 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.

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