Lighthouse Investment Partners LLC Cuts Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Lighthouse Investment Partners LLC lessened its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 88.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,000 shares of the casino operator's stock after selling 319,258 shares during the period. Lighthouse Investment Partners LLC's holdings in Wynn Resorts were worth $3,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts in the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in Wynn Resorts during the fourth quarter worth $36,000. Spire Wealth Management raised its position in Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after acquiring an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Wynn Resorts in the fourth quarter valued at $45,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WYNN shares. Mizuho lowered their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Barclays decreased their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $112.92.

Insider Activity

In other news, Director Philip G. Satre acquired 22,200 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Tilman J. Fertitta acquired 5,025 shares of the business's stock in a transaction dated 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 completion of the acquisition, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 438,700 shares of company stock valued at $31,300,943 in the last 90 days. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Trading Down 1.0%

Shares of NASDAQ WYNN traded down $0.99 during midday trading on Friday, reaching $96.76. 2,196,323 shares of the stock were exchanged, compared to its average volume of 2,521,111. The stock has a 50 day moving average price of $81.27 and a 200-day moving average price of $85.85. The company has a market capitalization of $10.12 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81.

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

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is 27.78%.

Wynn Resorts Company 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.