Wynn Resorts, Limited $WYNN Shares Sold by Clough Capital Partners L P

Clough Capital Partners L P cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,230 shares of the casino operator’s stock after selling 8,330 shares during the quarter. Wynn Resorts accounts for approximately 1.4% of Clough Capital Partners L P’s holdings, making the stock its 29th biggest position. Clough Capital Partners L P owned approximately 0.12% of Wynn Resorts worth $15,550,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WYNN. Egerton Capital UK LLP acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $249,053,000. Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts during the second quarter worth $104,629,000. Norges Bank acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $122,696,000. Zurich Insurance Group Ltd FI purchased a new position in Wynn Resorts in the third quarter worth $110,213,000. Finally, Westfield Capital Management Co. LP purchased a new position in Wynn Resorts in the third quarter worth $73,588,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley cut their price objective on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Jefferies Financial Group cut their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Wells Fargo & Company set a $142.00 price objective on Wynn Resorts and gave the stock an “overweight” rating in a research report on Sunday, May 10th. Bank of America cut their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, UBS Group reiterated a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Stock Down 1.3%

Shares of WYNN stock opened at $102.31 on Thursday. Wynn Resorts, Limited has a fifty-two week low of $86.53 and a fifty-two week high of $134.72. The stock has a market cap of $10.62 billion, a P/E ratio of 30.54, a P/E/G ratio of 0.97 and a beta of 0.98. The business has a fifty day simple moving average of $103.24 and a 200-day simple moving average of $109.95.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

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.