Wynn Resorts, Limited $WYNN Shares Bought by Long Focus Capital Management LLC

Key Points

• Long Focus Capital Management LLC increased its stake in Wynn Resorts by 84%, holding 300,000 shares valued at approximately $25 million.
• Wynn Resorts' stock has received several upgrades from analysts, with Goldman Sachs initiating coverage with a "buy" rating and a target price of $122 per share.
• The company reported $1.09 earnings per share for the last quarter, missing the consensus estimate, while the revenue increased by 0.6% year-over-year.

Long Focus Capital Management LLC grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 84.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 300,000 shares of the casino operator's stock after buying an additional 137,000 shares during the quarter. Wynn Resorts accounts for about 0.8% of Long Focus Capital Management LLC's portfolio, making the stock its 25th largest holding. Long Focus Capital Management LLC owned about 0.29% of Wynn Resorts worth $25,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WYNN. DAVENPORT & Co LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at about $49,476,000. Nuveen LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at about $41,731,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Wynn Resorts by 18.4% in the 4th 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. Deutsche Bank AG lifted its holdings in shares of Wynn Resorts by 108.5% in the 4th 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. Finally, Alyeska Investment Group L.P. increased its stake in shares of Wynn Resorts by 712.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 481,459 shares of the casino operator's stock valued at $41,483,000 after purchasing an additional 422,174 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price target for the company. Barclays upped their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Morgan Stanley upped their price target on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target for the company. Finally, Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $121.93.

Wynn Resorts Stock Performance

Shares of WYNN stock traded down $1.28 during trading hours on Tuesday, reaching $125.47. The company had a trading volume of 1,528,473 shares, compared to its average volume of 2,457,973. The stock has a fifty day moving average of $109.13 and a 200-day moving average of $93.42. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 6.76 and a beta of 1.37. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $128.53.

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 analysts' consensus estimates of $1.20 by ($0.11). The company had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company earned $1.12 earnings per share. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.25 dividend. 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%.

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.