Wedge Capital Management L L P NC Has $34.67 Million Position in Wynn Resorts, Limited $WYNN

Wedge Capital Management L L P NC decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 288,148 shares of the casino operator’s stock after selling 15,838 shares during the period. Wedge Capital Management L L P NC’s holdings in Wynn Resorts were worth $34,673,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Wynn Resorts during the third quarter valued at approximately $26,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Wynn Resorts in the 3rd quarter valued at $31,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Wynn Resorts by 400.0% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts in the 2nd quarter valued at $25,000. Finally, Westside Investment Management Inc. increased its stake in shares of Wynn Resorts by 40.2% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock valued at $44,000 after purchasing an additional 97 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WYNN has been the subject of several recent analyst reports. Mizuho upped their price objective on Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Stifel Nicolaus lowered their target price on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. Barclays raised their price target on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.87.

Wynn Resorts Stock Down 2.9%

Shares of WYNN stock opened at $96.59 on Friday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72. The stock’s fifty day simple moving average is $108.14 and its 200 day simple moving average is $118.07. The firm has a market capitalization of $10.05 billion, a P/E ratio of 32.20, a P/E/G ratio of 11.27 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. Wynn Resorts’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 earnings per share. As a group, equities research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is currently 33.33%.

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.