Bayforest Capital Ltd Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Key Points

• Bayforest Capital Ltd has acquired a new position in Wynn Resorts, purchasing 4,375 shares worth approximately $365,000 in the first quarter, as per their 13F filing.
• Wynn Resorts recently reported an EPS of $1.07 for the quarter, falling short of the analysts' expectations of $1.24, with a revenue of $1.70 billion, which is an 8.7% decline compared to the same period last year.
• The company announced a quarterly dividend of $0.25 per share, which has a dividend yield of 0.9%, while maintaining a dividend payout ratio of 27.78%.

Bayforest Capital Ltd bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 4,375 shares of the casino operator's stock, valued at approximately $365,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bryce Point Capital LLC acquired a new stake in Wynn Resorts during the 1st quarter worth approximately $898,000. LPL Financial LLC grew its stake in shares of Wynn Resorts by 18.1% during the 1st quarter. LPL Financial LLC now owns 88,226 shares of the casino operator's stock worth $7,367,000 after acquiring an additional 13,533 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Wynn Resorts by 2.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,956 shares of the casino operator's stock worth $5,090,000 after acquiring an additional 1,229 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Wynn Resorts by 8.6% during the 1st quarter. Empirical Finance LLC now owns 3,205 shares of the casino operator's stock worth $268,000 after acquiring an additional 253 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Wynn Resorts by 10.2% during the 1st quarter. Pacer Advisors Inc. now owns 24,142 shares of the casino operator's stock worth $2,016,000 after acquiring an additional 2,233 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Price Performance

WYNN stock opened at $109.03 on Friday. The company has a fifty day moving average price of $97.84 and a two-hundred day moving average price of $88.72. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $112.36. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm earned $1.59 earnings per share. The company's revenue for the quarter was down 8.7% compared to the same quarter last year. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts's dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They set a "buy" rating and a $122.00 price target for the company. Citigroup reaffirmed a "neutral" rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Bank of America raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Wednesday, May 7th. Finally, Barclays raised their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $114.71.

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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