Zweig DiMenna Associates LLC Sells 5,000 Shares of Wynn Resorts, Limited $WYNN

Zweig DiMenna Associates LLC cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 10.5% during the 3rd quarter, Holdings Channel reports. The firm owned 42,467 shares of the casino operator’s stock after selling 5,000 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Wynn Resorts were worth $5,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of WYNN. Westside Investment Management Inc. increased its position in Wynn Resorts by 40.2% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock worth $44,000 after buying an additional 97 shares during the last quarter. Private Wealth Partners LLC lifted its holdings in Wynn Resorts by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,360 shares of the casino operator’s stock valued at $315,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Wynn Resorts by 41.5% in the third quarter. UMB Bank n.a. now owns 385 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 113 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Wynn Resorts by 1.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock valued at $1,167,000 after buying an additional 127 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Wynn Resorts by 19.6% during the third quarter. Global Retirement Partners LLC now owns 818 shares of the casino operator’s stock worth $105,000 after purchasing an additional 134 shares during the period. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Up 5.1%

NASDAQ:WYNN opened at $113.39 on Tuesday. The firm has a market capitalization of $11.79 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 9.79 and a beta of 1.06. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72. The stock’s 50-day simple moving average is $118.12 and its 200 day simple moving average is $120.30.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a negative return on equity of 38.04% and a net margin of 4.59%.The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. On average, analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 23rd. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of research reports. Morgan Stanley upped their price objective on Wynn Resorts from $132.00 to $139.00 and gave the company an “overweight” rating in a report on Friday, January 16th. UBS Group raised their price target on shares of Wynn Resorts from $147.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Zacks Research downgraded shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $139.00.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.