Wynn Resorts, Limited $WYNN Shares Sold by Bridger Management LLC

Key Points

• Bridger Management LLC has reduced its stake in Wynn Resorts by 42.3%, now holding 78,038 shares worth approximately $6.5 million, making it the company's 15th largest holding.
• Wynn Resorts reported earnings of $1.09 per share, which was below the consensus estimate of $1.20, with revenues of $1.74 billion for the quarter, showing a year-over-year revenue increase of 0.6%.
• Analysts have given Wynn Resorts a consensus rating of "Moderate Buy" with an average target price of $121.93, following upgrades from several research firms.

Bridger Management LLC reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,038 shares of the casino operator's stock after selling 57,151 shares during the period. Wynn Resorts comprises about 3.2% of Bridger Management LLC's holdings, making the stock its 15th largest holding. Bridger Management LLC owned about 0.07% of Wynn Resorts worth $6,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WYNN. Dagco Inc. acquired a new position in Wynn Resorts during the 1st quarter worth about $25,000. AlphaQuest LLC purchased a new stake in Wynn Resorts during the first quarter worth about $25,000. Global X Japan Co. Ltd. lifted its position in shares of Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after purchasing an additional 409 shares during the period. Finally, Garde Capital Inc. purchased a new position in shares of Wynn Resorts in the first quarter valued at approximately $73,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $125.47 on Wednesday. The stock has a 50-day simple moving average of $109.82 and a 200-day simple moving average of $93.65. The stock has a market cap of $13.05 billion, a P/E ratio of 37.68, a P/E/G ratio of 6.76 and a beta of 1.37. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $128.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts's revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. On average, equities research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's payout ratio is currently 30.03%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WYNN. UBS Group raised Wynn Resorts from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $101.00 to $147.00 in a research report on Thursday, August 28th. JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target on the stock. Morgan Stanley increased their price target on Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Macquarie lifted their price objective on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Citigroup restated a "neutral" rating and set a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $121.93.

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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