Geode Capital Management LLC Lowers Stock Position in Wynn Resorts, Limited $WYNN

Key Points

• Geode Capital Management trimmed its Wynn Resorts stake by 0.9% in Q4, but still held 2.2 million shares valued at about $263.9 million at the end of the period.
• Analysts remain constructive on WYNN overall, with a consensus rating of Moderate Buy and an average price target of $140, even though several firms recently lowered their targets.
• Wynn Resorts reported a better-than-expected quarter, posting $1.25 EPS on $1.86 billion in revenue, and the stock was up 5.2% as of the report.

Geode Capital Management LLC cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,197,108 shares of the casino operator's stock after selling 19,790 shares during the period. Geode Capital Management LLC owned 2.11% of Wynn Resorts worth $263,910,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. grew its position in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock worth $30,000 after acquiring an additional 89 shares during the last quarter. Horizon Investments LLC grew its position in shares of Wynn Resorts by 6.7% during the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator's stock worth $180,000 after acquiring an additional 94 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of Wynn Resorts by 40.2% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator's stock worth $44,000 after acquiring an additional 97 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Wynn Resorts by 21.6% during the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator's stock worth $72,000 after acquiring an additional 100 shares during the last quarter. Finally, Cromwell Holdings LLC grew its position in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock worth $31,000 after acquiring an additional 103 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WYNN. Susquehanna lowered their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a "positive" rating on the stock in a research report on Thursday, April 16th. UBS Group reiterated a "buy" rating on shares of Wynn Resorts in a research report on Monday, February 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Wynn Resorts from $140.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $136.00 to $133.00 and set an "overweight" rating on the stock in a research report on Thursday, May 14th. Finally, Citigroup lowered their price objective on shares of Wynn Resorts from $145.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Wynn Resorts Stock Up 5.2%

NASDAQ:WYNN opened at $106.53 on Tuesday. The company has a market capitalization of $11.06 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 0.93 and a beta of 0.98. Wynn Resorts, Limited has a 52-week low of $82.63 and a 52-week high of $134.72. The stock has a fifty day simple moving average of $102.19 and a 200-day simple moving average of $111.43.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 4.68 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, May 18th. Wynn Resorts's dividend payout ratio (DPR) is currently 29.85%.

Wynn Resorts Company Profile

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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