Biglari Sardar Invests $6.82 Million in Wynn Resorts, Limited $WYNN

Biglari Sardar bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 70,200 shares of the casino operator's stock, valued at approximately $6,815,718. Wynn Resorts comprises about 0.0% of Biglari Sardar's holdings, making the stock its 5th largest position. Biglari Sardar owned about 0.07% of Wynn Resorts at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WYNN. BlackRock Inc. purchased a new stake in shares of Wynn Resorts in the second quarter valued at about $609,566,000. Sequoia Financial Advisors LLC lifted its stake in shares of Wynn Resorts by 46.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator's stock valued at $92,676,000 after buying an additional 243,179 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Wynn Resorts by 97.5% during the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator's stock valued at $2,697,000 after buying an additional 11,067 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of Wynn Resorts during the second quarter valued at approximately $1,053,000. Finally, Biglari Capital CORP. purchased a new position in shares of Wynn Resorts during the second quarter valued at approximately $13,961,639. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $95.26 on Friday. Wynn Resorts, Limited has a one year low of $92.52 and a one year high of $134.72. The company has a 50 day moving average price of $99.00 and a 200 day moving average price of $102.44. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 0.82 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. 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 business posted $1.09 earnings per share. Wynn Resorts's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Wynn Resorts, Limited will post 4.65 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors 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 annualized dividend and a yield of 1.0%. Wynn Resorts's dividend payout ratio is 24.81%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Bank of America reduced their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Truist Financial assumed coverage on shares of Wynn Resorts in a research note on Wednesday, July 8th. They set a "buy" rating and a $125.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Citigroup reissued a "buy" rating on shares of Wynn Resorts in a research note on Thursday, August 6th. Finally, Stifel Nicolaus set a $143.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.