Clough Capital Partners L P Makes New Investment in Wynn Resorts, Limited $WYNN

Key Points

• Clough Capital Partners bought a new stake of 137,560 shares in Wynn Resorts during Q3, valued at about $17.6 million, representing ~1.5% of Clough’s holdings and roughly 0.13% of Wynn's shares.
• Wynn reported Q results with EPS of $1.17 (missing estimates) and $1.87B revenue, has a $10.47B market cap, pays a $1.00 annual dividend (1.0% yield), and carries a consensus analyst rating of “Moderate Buy” with a $138.87 price target.

Clough Capital Partners L P acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 137,560 shares of the casino operator's stock, valued at approximately $17,645,000. Wynn Resorts makes up about 1.5% of Clough Capital Partners L P's holdings, making the stock its 27th largest position. Clough Capital Partners L P owned 0.13% of Wynn Resorts at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new position in shares of Wynn Resorts during the second quarter valued at about $25,000. Root Financial Partners LLC purchased a new stake in Wynn Resorts during the third quarter valued at approximately $26,000. Manchester Capital Management LLC raised its position in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock valued at $30,000 after purchasing an additional 300 shares during the period. MTM Investment Management LLC bought a new position in Wynn Resorts during the second quarter valued at $31,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Wynn Resorts in the 3rd quarter worth about $31,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Trading Up 1.7%

NASDAQ:WYNN opened at $100.43 on Friday. The company has a market capitalization of $10.47 billion, a P/E ratio of 33.48, a PEG ratio of 11.98 and a beta of 1.01. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72. The firm has a fifty day simple moving average of $111.41 and a 200-day simple moving average of $119.67.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.16). The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. Wynn Resorts's revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts's dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research analyst reports. UBS Group reiterated a "buy" rating on shares of Wynn Resorts in a research report on Monday, February 23rd. Jefferies Financial Group upped their price objective on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, December 8th. Barclays increased their target price on shares of Wynn Resorts from $141.00 to $143.00 and gave the stock an "overweight" rating in a report on Friday, January 16th. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Finally, Macquarie Infrastructure reiterated an "outperform" rating and issued a $143.00 price target on shares of Wynn Resorts in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.87.

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.

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