Kettle Hill Capital Management LLC Has $28.27 Million Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Kettle Hill Capital Management LLC has reduced its holdings in Wynn Resorts by 15.4%, now owning 338,571 shares valued at approximately $28.27 million, making it their largest portfolio position.
• Wynn Resorts reported quarterly earnings, with $1.09 earnings per share, missing analysts' estimates of $1.20, while total revenue of $1.74 billion matched forecasts.
• Research firms have upgraded their ratings on Wynn Resorts, with Argus setting a new price target of $145.00 and UBS raising theirs to $147.00, reflecting overall positive sentiment among analysts.

Kettle Hill Capital Management LLC reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,571 shares of the casino operator's stock after selling 61,435 shares during the period. Wynn Resorts makes up about 7.8% of Kettle Hill Capital Management LLC's holdings, making the stock its largest holding. Kettle Hill Capital Management LLC owned 0.32% of Wynn Resorts worth $28,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in WYNN. Dagco Inc. bought a new position in shares of Wynn Resorts in the first quarter worth $25,000. AlphaQuest LLC purchased a new position in shares of Wynn Resorts during the 1st quarter valued at $25,000. Global X Japan Co. Ltd. grew its position in shares of Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after purchasing an additional 409 shares in the last quarter. Finally, Garde Capital Inc. purchased a new position in shares of Wynn Resorts during the 1st quarter valued at $73,000. 88.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of recent analyst reports. Macquarie boosted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. UBS Group upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and upped their target price for the stock from $101.00 to $147.00 in a research report on Thursday, August 28th. JPMorgan Chase & Co. initiated coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Finally, Mizuho upped their target price on shares of Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and a consensus price target of $123.47.

Wynn Resorts Price Performance

NASDAQ WYNN traded down $1.99 during trading on Friday, hitting $120.90. 2,439,928 shares of the company's stock traded hands, compared to its average volume of 2,044,060. The stock has a fifty day moving average of $111.62 and a two-hundred day moving average of $94.33. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $128.53. The firm has a market cap of $12.57 billion, a P/E ratio of 36.31, a PEG ratio of 6.22 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. As a group, analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's dividend payout ratio is presently 30.03%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company's stock.

Wynn Resorts 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.