Hudson Bay Capital Management LP Sells 6,278 Shares of Wynn Resorts, Limited $WYNN

Hudson Bay Capital Management LP lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,704 shares of the casino operator’s stock after selling 6,278 shares during the quarter. Hudson Bay Capital Management LP owned about 0.07% of Wynn Resorts worth $9,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WYNN. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth $25,000. Root Financial Partners LLC acquired a new position in Wynn Resorts in the third quarter valued at about $26,000. Manchester Capital Management LLC lifted its position in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after purchasing an additional 300 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in Wynn Resorts during the third quarter worth about $31,000. Finally, Atlantic Edge Private Wealth Management LLC grew its stake in Wynn Resorts by 400.0% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock worth $32,000 after buying an additional 200 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Trading Up 1.5%

Shares of WYNN stock opened at $103.16 on Friday. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 11.51 and a beta of 1.01. The business’s 50-day moving average price is $110.09 and its 200-day moving average price is $119.06. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 earnings per share (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 analyst estimates of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 EPS. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on WYNN shares. Zacks Research cut shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. JPMorgan Chase & Co. increased their price target on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Mizuho raised their target price on Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $138.87.

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.