Alyeska Investment Group L.P. Has $17.76 Million Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Alyeska Investment Group L.P. reduced its holdings in Wynn Resorts by 55.8%, selling 268,810 shares, and currently owns 212,649 shares worth $17.76 million.
• Wynn Resorts reported a quarterly EPS of $1.09, missing analysts' estimates of $1.20, with revenues of $1.74 billion.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.8% and a payout ratio of 30.03%.

Alyeska Investment Group L.P. trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 55.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 212,649 shares of the casino operator's stock after selling 268,810 shares during the period. Alyeska Investment Group L.P. owned 0.20% of Wynn Resorts worth $17,756,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Resolute Capital Asset Partners LLC bought a new position in shares of Wynn Resorts in the 1st quarter valued at $3,758,000. Oppenheimer & Co. Inc. bought a new position in shares of Wynn Resorts in the 1st quarter valued at $1,690,000. Oak Harvest Investment Services lifted its stake in shares of Wynn Resorts by 20.8% in the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator's stock valued at $2,677,000 after acquiring an additional 5,511 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Wynn Resorts in the 4th quarter valued at $282,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Wynn Resorts by 19.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 56,807 shares of the casino operator's stock valued at $4,743,000 after acquiring an additional 9,298 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

Shares of WYNN stock traded down $1.99 during mid-day trading on Friday, hitting $120.90. The company's stock had a trading volume of 2,439,928 shares, compared to its average volume of 2,044,060. The company's fifty day simple moving average is $111.62 and its 200-day simple moving average is $94.33. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $128.53. The company has a market cap of $12.57 billion, a PE ratio of 36.31, a P/E/G ratio of 6.22 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the business posted $1.12 earnings per share. The business's revenue was up .6% on a year-over-year basis. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio (DPR) is 30.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WYNN. UBS Group upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and increased their price target for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Barclays raised their target price on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Macquarie raised their target price on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. began coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $123.47.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.52% of the company's stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.