Nightview Capital LLC Makes New $6.51 Million Investment in Wynn Resorts, Limited $WYNN

Key Points

• Nightview Capital LLC has acquired a new stake in Wynn Resorts, purchasing 77,920 shares valued at approximately $6.5 million, making it the sixth largest holding in their portfolio.
• Analysts have set a consensus target price of $123.47 for Wynn Resorts, with several firms issuing "buy" ratings and new price targets above the current stock price.
• Wynn Resorts recently declared a quarterly dividend of $0.25 per share, indicating a 0.8% annual yield and a dividend payout ratio of 30.03%.

Nightview Capital LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 77,920 shares of the casino operator's stock, valued at approximately $6,506,000. Wynn Resorts comprises 4.2% of Nightview Capital LLC's investment portfolio, making the stock its 6th biggest position. Nightview Capital LLC owned about 0.07% of Wynn Resorts at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WYNN. DAVENPORT & Co LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at $49,476,000. Nuveen LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at $41,731,000. Barrow Hanley Mewhinney & Strauss LLC boosted 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 purchasing an additional 485,204 shares during the last quarter. Deutsche Bank AG boosted 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 purchasing an additional 441,558 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Wynn Resorts by 758.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 386,721 shares of the casino operator's stock valued at $32,291,000 after purchasing an additional 341,688 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director owned 3,066 shares of the company's stock, valued at $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price target on the stock. Citigroup reiterated a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price on the stock in a research note on Wednesday. Macquarie raised their target price on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Morgan Stanley raised their target price on shares of Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and a consensus price target of $123.47.

Wynn Resorts Stock Down 1.6%

Shares of WYNN stock traded down $1.99 during mid-day trading on Friday, reaching $120.90. The company's stock had a trading volume of 2,439,928 shares, compared to its average volume of 2,044,060. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $128.53. The firm has a market capitalization of $12.57 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 6.22 and a beta of 1.37. The company's 50 day simple moving average is $111.62 and its 200-day simple moving average is $94.33.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released 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 negative return on equity of 56.78% and a net margin of 5.51%.The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the firm earned $1.12 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid 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 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.