Oder Investment Management LLC Acquires Shares of 8,568 Wynn Resorts, Limited (NASDAQ:WYNN)

Key Points

• Oder Investment Management LLC has acquired 8,568 shares of Wynn Resorts, valued at approximately $715,000, as disclosed in a recent SEC filing.
• Wynn Resorts reported earnings per share (EPS) of $1.09 for its recent quarter, missing estimates, and a revenue of $1.74 billion, which met expectations.
• The company announced a quarterly dividend of $0.25 per share with an annualized yield of 0.9%, scheduled for payment on August 29th.

Oder Investment Management LLC acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,568 shares of the casino operator's stock, valued at approximately $715,000.

A number of other hedge funds have also recently bought and sold shares of the business. Brandywine Global Investment Management LLC grew its stake in Wynn Resorts by 5.7% during the 1st quarter. Brandywine Global Investment Management LLC now owns 63,989 shares of the casino operator's stock valued at $5,343,000 after purchasing an additional 3,447 shares in the last quarter. Cookson Peirce & Co. Inc. grew its stake in Wynn Resorts by 73.3% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 58,618 shares of the casino operator's stock valued at $4,895,000 after purchasing an additional 24,790 shares in the last quarter. Regal Partners Ltd grew its stake in Wynn Resorts by 21.5% during the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after purchasing an additional 192,873 shares in the last quarter. Dagco Inc. acquired a new stake in Wynn Resorts during the 1st quarter valued at approximately $25,000. Finally, Resona Asset Management Co. Ltd. grew its stake in Wynn Resorts by 3.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 28,856 shares of the casino operator's stock valued at $2,404,000 after purchasing an additional 915 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Trading Down 1.7%

Shares of NASDAQ WYNN opened at $109.45 on Friday. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 5.92 and a beta of 1.41. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $112.57. The stock's 50 day simple moving average is $102.32 and its 200 day simple moving average is $90.59.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced 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). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts's payout ratio is presently 30.03%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WYNN shares. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. UBS Group reiterated a "neutral" rating and issued a $101.00 target price (up previously from $83.00) on shares of Wynn Resorts in a research report on Tuesday, July 8th. Stifel Nicolaus lifted their target price on Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Morgan Stanley lifted their target price on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. started coverage on Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and a consensus target price of $118.64.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the sale, the director owned 3,066 shares of the company's stock, valued at $282,439.92. The trade was a 42.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by insiders.

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.

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