Night Squared LP Makes New Investment in Wynn Resorts, Limited $WYNN

Key Points

• Night Squared LP acquired 52,800 shares of Wynn Resorts, valued at approximately $4.4 million, marking a 0.05% ownership in the company, which is now its 17th largest position.
• Several analysts have raised their price targets for Wynn Resorts, with Mizuho setting a new target of $126 and Bank of America upgrading to a "buy" rating with a $100 price objective.
• Wynn Resorts recently declared a quarterly dividend of $0.25 per share, representing a 0.8% annualized yield and a payout ratio of 30.03%.

Night Squared LP bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 52,800 shares of the casino operator's stock, valued at approximately $4,409,000. Wynn Resorts accounts for about 2.6% of Night Squared LP's investment portfolio, making the stock its 17th biggest position. Night Squared LP owned approximately 0.05% of Wynn Resorts at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Resolute Capital Asset Partners LLC acquired a new stake in Wynn Resorts during the 1st quarter worth approximately $3,758,000. Oppenheimer & Co. Inc. acquired a new stake in Wynn Resorts during the 1st quarter worth approximately $1,690,000. Oak Harvest Investment Services lifted its position in Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator's stock worth $2,677,000 after acquiring an additional 5,511 shares during the period. Mackenzie Financial Corp acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $282,000. Finally, Wedge Capital Management L L P NC lifted its position in Wynn Resorts by 19.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 56,807 shares of the casino operator's stock worth $4,743,000 after acquiring an additional 9,298 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

WYNN stock traded down $1.28 during midday trading on Tuesday, hitting $125.47. 1,528,473 shares of the stock were exchanged, compared to its average volume of 2,146,076. The stock's 50-day moving average price is $109.13 and its 200-day moving average price is $93.42. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 6.76 and a beta of 1.37. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $128.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 earnings per share. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts's dividend payout ratio (DPR) is presently 30.03%.

Analysts Set New Price Targets

A number of analysts have weighed in on WYNN shares. Morgan Stanley increased 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. 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. Jefferies Financial Group raised their price target on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 11th. Barclays raised their price target on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, UBS Group raised Wynn Resorts from a "neutral" rating to a "buy" rating and raised their price target for the company from $101.00 to $147.00 in a report on Thursday, August 28th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average 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.