Twinbeech Capital LP Buys New Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Twinbeech Capital LP bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,216 shares of the casino operator's stock, valued at approximately $363,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts in the 4th quarter valued at $36,000. Spire Wealth Management boosted its holdings in Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after purchasing an additional 234 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts in the 4th quarter valued at $45,000. Finally, Venturi Wealth Management LLC boosted its holdings in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after purchasing an additional 122 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 0.6%

Shares of Wynn Resorts stock opened at $90.91 on Friday. The stock has a market capitalization of $9.51 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The company has a 50-day simple moving average of $82.09 and a 200 day simple moving average of $85.74. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 EPS. On average, equities 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 will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is currently 27.78%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WYNN shares. Morgan Stanley reduced their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Macquarie reissued an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus price target of $112.92.

Insider Buying and Selling

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. The trade was a 0.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 416,500 shares of company stock worth $29,254,547 in the last quarter. 0.52% of the stock is owned by corporate insiders.

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.

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