Interval Partners LP Reduces Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Interval Partners LP has reduced its position in Wynn Resorts by 34.5% during the first quarter, now holding 146,031 shares worth approximately $12.19 million.
• Wynn Resorts' stock has an average rating of "Moderate Buy" from analysts, with a consensus target price of $123.47, following several price target adjustments by major brokerages.
• The company recently announced a quarterly dividend of $0.25, representing a 0.8% yield, which aligns with a dividend payout ratio of 30.03%.

Interval Partners LP trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 34.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,031 shares of the casino operator's stock after selling 76,973 shares during the period. Interval Partners LP owned approximately 0.14% of Wynn Resorts worth $12,194,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in WYNN. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after acquiring an additional 485,204 shares during the period. Jefferies Financial Group Inc. increased its holdings in Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after buying an additional 139,270 shares during the last quarter. Regal Partners Ltd grew its holdings in shares of Wynn Resorts by 21.5% during the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock worth $91,147,000 after purchasing an additional 192,873 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock worth $82,834,000 after purchasing an additional 111,428 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Wynn Resorts by 108.5% during the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after purchasing an additional 441,558 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Shares of WYNN stock traded down $1.99 during midday trading on Friday, reaching $120.90. 2,439,928 shares of the company traded hands, compared to its average volume of 2,044,060. The firm's 50 day simple moving average is $111.62 and its two-hundred day simple moving average is $94.33. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $128.53. The firm has a market cap of $12.57 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 6.22 and a beta of 1.37.

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

Wynn Resorts Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's dividend payout ratio (DPR) is presently 30.03%.

Insider Activity

In other news, Director Patricia Mulroy sold 4,438 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares of the company's stock, valued at $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. started coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price objective for the company. Mizuho raised their price objective on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Stifel Nicolaus raised their price objective on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, UBS Group upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and raised their price objective for the company from $101.00 to $147.00 in a research report on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.47.

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.