Alyeska Investment Group L.P. Purchases Shares of 1,022,524 Wynn Resorts, Limited $WYNN

Key Points

• Alyeska Investment Group acquired 1,022,524 shares of Wynn Resorts worth approximately $99.3 million, giving it about a 0.99% stake. Hedge funds and other institutional investors collectively own 88.64% of the company.
• Wynn Resorts beat quarterly expectations with earnings of $1.24 per share versus the $0.99 consensus, while revenue rose 6.9% year over year to $1.86 billion.
• Shares opened at $95.26, well below their 52-week high of $134.72. Analysts maintain a “Moderate Buy” consensus with an average price target of $134.19, and the company pays a $1.00 annualized dividend yielding about 1.0%.

Alyeska Investment Group L.P. acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,022,524 shares of the casino operator's stock, valued at approximately $99,277,000. Alyeska Investment Group L.P. owned approximately 0.99% of Wynn Resorts at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MUFG Securities EMEA plc bought a new position in Wynn Resorts during the second quarter valued at $25,000. Hantz Financial Services Inc. increased its holdings in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock worth $30,000 after buying an additional 89 shares during the last quarter. SHP Wealth Management purchased a new stake in shares of Wynn Resorts during the 4th quarter valued at about $32,000. Geneos Wealth Management Inc. raised its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after buying an additional 156 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Wynn Resorts in the 4th quarter valued at about $34,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $95.26 on Friday. The company has a market capitalization of $9.81 billion, a P/E ratio of 23.64, a P/E/G ratio of 0.83 and a beta of 1.01. The company's 50-day simple moving average is $99.00 and its two-hundred day simple moving average is $102.44. 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 posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, research analysts expect that Wynn Resorts, Limited will post 4.65 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts's dividend payout ratio is presently 24.81%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WYNN shares. Zacks Research upgraded Wynn Resorts from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Mizuho cut their price objective on shares of Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 28th. Barclays increased their target price on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Bank of America dropped their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $143.00 price target on shares of Wynn Resorts in a report 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 issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $134.19.

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.

Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source