TORQ CAPITAL MANAGEMENT HK Ltd Has $20.10 Million Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

TORQ CAPITAL MANAGEMENT HK Ltd boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 108.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,600 shares of the casino operator’s stock after purchasing an additional 114,600 shares during the quarter. Wynn Resorts comprises 52.8% of TORQ CAPITAL MANAGEMENT HK Ltd’s portfolio, making the stock its largest holding. TORQ CAPITAL MANAGEMENT HK Ltd owned approximately 0.20% of Wynn Resorts worth $20,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in WYNN. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 1,083.8% during the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after purchasing an additional 401 shares during the last quarter. Acadian Asset Management LLC bought a new position in Wynn Resorts in the first quarter valued at about $45,000. Finally, Friedenthal Financial bought a new position in Wynn Resorts in the fourth quarter valued at about $46,000. Institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WYNN. Susquehanna raised their price target on Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Mizuho started coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price target on the stock. Macquarie raised their price target on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Wells Fargo & Company raised their price target on Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Morgan Stanley upped their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $121.36.

Wynn Resorts Stock Down 1.1 %

Shares of WYNN traded down $1.10 during mid-day trading on Wednesday, hitting $98.25. 943,927 shares of the company’s stock were exchanged, compared to its average volume of 1,799,498. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $117.86. The stock’s 50-day simple moving average is $102.74 and its 200-day simple moving average is $94.81. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 16.61 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping the consensus estimate of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned ($1.23) earnings per share. The business’s revenue for the quarter was up 83.1% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post 5.38 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Wynn Resorts’s dividend payout ratio (DPR) is 16.72%.

Insider Activity at Wynn Resorts

In related news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the transaction, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Insiders have sold 26,578 shares of company stock valued at $2,850,282 over the last three months. 0.52% of the stock is owned by insiders.

About Wynn Resorts

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.