Patton Fund Management Inc. Purchases 17,241 Shares of Wynn Resorts, Limited $WYNN

Key Points

• Patton Fund Management increased its stake in Wynn Resorts by 642.8% in Q4, buying an additional 17,241 shares to hold 19,923 shares worth about $2.397 million.
• Analysts have a consensus rating of Moderate Buy with a consensus price target of $138.53, versus the stock's recent price near $103, implying notable upside potential.
• Wynn missed quarterly EPS ($1.17 reported vs. $1.33 expected) while revenue modestly beat estimates, and the company pays a $0.25 quarterly dividend (1.0% yield).

Patton Fund Management Inc. raised its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 642.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,923 shares of the casino operator's stock after purchasing an additional 17,241 shares during the period. Patton Fund Management Inc.'s holdings in Wynn Resorts were worth $2,397,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. increased its stake in Wynn Resorts by 40.2% in the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator's stock valued at $44,000 after purchasing an additional 97 shares in the last quarter. Parallel Advisors LLC lifted its stake in Wynn Resorts by 21.6% in the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator's stock valued at $72,000 after acquiring an additional 100 shares during the last quarter. Cromwell Holdings LLC lifted its stake in Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock valued at $31,000 after acquiring an additional 103 shares during the last quarter. UMB Bank n.a. lifted its stake in Wynn Resorts by 41.5% in the third quarter. UMB Bank n.a. now owns 385 shares of the casino operator's stock valued at $49,000 after acquiring an additional 113 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its stake in Wynn Resorts by 1.8% in the fourth quarter. Clear Creek Financial Management LLC now owns 6,555 shares of the casino operator's stock valued at $789,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WYNN shares. Texas Capital upgraded shares of Wynn Resorts to a "strong-buy" rating in a research note on Thursday, January 8th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, February 13th. Mizuho increased their price target on shares of Wynn Resorts from $131.00 to $134.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft set a $144.00 price target on shares of Wynn Resorts in a research note on Friday, February 13th. Finally, Jefferies Financial Group cut their price target on shares of Wynn Resorts from $161.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $138.53.

Wynn Resorts Trading Down 0.9%

Shares of Wynn Resorts stock opened at $103.06 on Tuesday. The firm has a market capitalization of $10.72 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 8.85 and a beta of 1.04. The firm's 50 day moving average is $105.95 and its 200 day moving average is $116.25. Wynn Resorts, Limited has a 1 year low of $71.77 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.16). The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 EPS. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $0.25 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts's dividend payout ratio (DPR) is currently 33.33%.

Wynn Resorts Profile

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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