AQR Capital Management LLC Boosts Position in Wynn Resorts, Limited $WYNN

Key Points

• AQR Capital Management LLC increased its stake in Wynn Resorts by 63.5%, owning 108,066 shares worth approximately $8.8 million after acquiring an additional 41,966 shares in the first quarter.
• Wynn Resorts reported earnings per share (EPS) of $1.09 for the quarter, missing analyst estimates by $0.11, while revenue remained steady at $1.74 billion.
• Several research analysts have upgraded Wynn Resorts' stock ratings, with Barclays raising its price target from $101 to $127 and UBS from $101 to $147, highlighting a positive outlook.

AQR Capital Management LLC raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 63.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,066 shares of the casino operator's stock after buying an additional 41,966 shares during the quarter. AQR Capital Management LLC owned about 0.10% of Wynn Resorts worth $8,819,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Resolute Capital Asset Partners LLC purchased a new position in Wynn Resorts during the 1st quarter valued at about $3,758,000. Oppenheimer & Co. Inc. purchased a new position in shares of Wynn Resorts during the first quarter worth about $1,690,000. Oak Harvest Investment Services grew its holdings in shares of Wynn Resorts by 20.8% during the first quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator's stock worth $2,677,000 after purchasing an additional 5,511 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Wynn Resorts during the fourth quarter worth about $282,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Wynn Resorts by 19.6% during the first quarter. Wedge Capital Management L L P NC now owns 56,807 shares of the casino operator's stock worth $4,743,000 after purchasing an additional 9,298 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $122.90 on Thursday. The business has a 50 day moving average of $112.96 and a 200 day moving average of $94.93. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 6.25 and a beta of 1.37. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $128.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced 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 net margin of 5.51% and a negative return on equity of 56.78%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

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

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction that occurred on 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 owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WYNN shares. Barclays boosted their price objective on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. UBS Group raised Wynn Resorts from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $101.00 to $147.00 in a report on Thursday, August 28th. Stifel Nicolaus boosted their price objective on Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, August 8th. JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Finally, Mizuho boosted their price objective on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $123.47.

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.

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