Twinbeech Capital LP Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

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

Several other hedge funds also recently bought and sold shares of WYNN. Norges Bank bought a new position in Wynn Resorts in the 4th quarter worth $117,352,000. Jericho Capital Asset Management L.P. bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $101,375,000. Raymond James Financial Inc. bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $75,872,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Wynn Resorts by 18.4% during 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. Finally, Deutsche Bank AG boosted its holdings in shares of Wynn Resorts by 108.5% during 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. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Down 1.2%

Wynn Resorts stock traded down $1.07 during midday trading on Wednesday, reaching $91.47. The stock had a trading volume of 379,005 shares, compared to its average volume of 2,638,816. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The company has a fifty day moving average of $82.48 and a 200 day moving average of $85.85.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.59 earnings per share. Equities research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 1.09%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were purchased at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the purchase, the insider now owns 13,000,000 shares in the company, valued at approximately $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 416,500 shares of company stock valued at $29,254,547. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WYNN has been the subject of several research reports. Wall Street Zen downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Barclays dropped their price objective on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts has a consensus rating of "Moderate Buy" and an average target price of $113.18.

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.