GKV Capital Management Co. Inc. Decreases Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• GKV Capital Management Co. Inc. reduced its position in Wynn Resorts by 68.4%, now holding only 1,000 shares after selling 2,160 shares.
• Wynn Resorts reported $1.09 earnings per share for the last quarter, falling short of analysts' expectations of $1.20 per share.
• The company recently announced a quarterly dividend of $0.25 per share, equating to an annualized dividend yield of 0.8%.

GKV Capital Management Co. Inc. lessened its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 68.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the casino operator's stock after selling 2,160 shares during the period. GKV Capital Management Co. Inc.'s holdings in Wynn Resorts were worth $84,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares during the period. Jefferies Financial Group Inc. increased its stake in shares of Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after buying an additional 139,270 shares during the period. Regal Partners Ltd increased its stake in shares of Wynn Resorts by 21.5% in the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after buying an additional 192,873 shares during the period. Raymond James Financial Inc. increased its stake in shares of Wynn Resorts by 12.7% in the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock valued at $82,834,000 after buying an additional 111,428 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Wynn Resorts by 108.5% in the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock valued at $73,118,000 after buying an additional 441,558 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Stock Down 1.0%

NASDAQ:WYNN traded down $1.28 on Tuesday, hitting $125.47. The stock had a trading volume of 1,528,473 shares, compared to its average volume of 2,457,973. The business's fifty day moving average is $109.13 and its 200 day moving average is $93.42. The company has a market cap of $13.05 billion, a PE ratio of 37.68, a P/E/G ratio of 6.76 and a beta of 1.37. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $128.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the business earned $1.12 EPS. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's dividend payout ratio (DPR) is currently 30.03%.

Analyst Upgrades and Downgrades

WYNN has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Wynn Resorts in a research note on Monday, July 7th. They issued a "buy" rating and a $122.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target for the company. Citigroup reissued a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Macquarie increased their price target on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Barclays upped their target price on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.93.

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.