Oak Thistle LLC Purchases New Position in Wynn Resorts, Limited $WYNN

Oak Thistle LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,916 shares of the casino operator’s stock, valued at approximately $2,156,000.

Other large investors have also recently modified their holdings of the company. Palidye Holdings Caymans Ltd bought a new position in Wynn Resorts in the second quarter worth approximately $104,629,000. Zurich Insurance Group Ltd FI bought a new position in Wynn Resorts in the third quarter worth approximately $110,213,000. Thrivent Financial for Lutherans raised its stake in Wynn Resorts by 6,391.3% in the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock worth $70,138,000 after buying an additional 737,234 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Wynn Resorts in the third quarter worth approximately $73,588,000. Finally, Bamco Inc. NY increased its position in shares of Wynn Resorts by 56.5% during the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after purchasing an additional 482,570 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN opened at $100.43 on Wednesday. The firm has a market capitalization of $10.45 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 8.67 and a beta of 1.04. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.72. The company’s fifty day moving average price is $106.37 and its 200-day moving average price is $116.87.

Wynn Resorts (NASDAQ:WYNN) last announced 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 company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.42 earnings per share. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is 33.33%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WYNN shares. Morgan Stanley reduced their price target on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $148.00 price target on shares of Wynn Resorts in a research report on Monday, December 15th. Barclays upped their price target on Wynn Resorts from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Stifel Nicolaus reduced their price target on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Texas Capital raised Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.53.

Wynn Resorts Company Profile

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.