Kodai Capital Management LP Purchases 151,956 Shares of Wynn Resorts, Limited $WYNN

Key Points

• Kodai Capital Management LP increased its stake in Wynn Resorts by 174.5%, acquiring an additional 151,956 shares to own 239,031 shares worth approximately $19.96 million.
• Several hedge funds have either bought new positions or increased their stakes in Wynn Resorts, with institutional investors holding 88.64% of the stock.
• Analysts have raised their price targets for Wynn Resorts, with UBS Group setting a new target at $147 and a consensus rating of "Moderate Buy".

Kodai Capital Management LP boosted its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 174.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,031 shares of the casino operator's stock after purchasing an additional 151,956 shares during the period. Kodai Capital Management LP owned about 0.23% of Wynn Resorts worth $19,959,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new stake in Wynn Resorts during the 1st quarter valued at $25,000. Dagco Inc. acquired a new position in Wynn Resorts in the first quarter valued at $25,000. Global X Japan Co. Ltd. boosted its holdings in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Wynn Resorts by 3,408.3% in the first 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 during the period. Finally, Garde Capital Inc. purchased a new position in Wynn Resorts in the first quarter valued at about $73,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WYNN has been the topic of a number of analyst reports. Barclays lifted their target price on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Wednesday, May 7th. Macquarie lifted their target price on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Citigroup reiterated a "neutral" rating and set a $114.00 price objective (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Finally, Morgan Stanley boosted their price objective on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $121.93.

Wynn Resorts Trading Down 1.0%

WYNN traded down $1.28 on Tuesday, hitting $125.47. 1,528,315 shares of the stock traded hands, compared to its average volume of 2,457,964. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $128.53. The firm has a market capitalization of $13.05 billion, a PE ratio of 37.68, a P/E/G ratio of 6.76 and a beta of 1.37. The business has a fifty day moving average price of $109.13 and a two-hundred day moving average price of $93.42.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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 firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The company's revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

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

About Wynn Resorts

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.