Diametric Capital LP Makes New Investment in Wynn Resorts, Limited $WYNN

Diametric Capital LP bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, Holdings Channel reports. The firm bought 36,415 shares of the casino operator’s stock, valued at approximately $3,411,000. Wynn Resorts accounts for about 1.8% of Diametric Capital LP’s portfolio, making the stock its 5th largest holding.

Several other large investors have also modified their holdings of the stock. Dagco Inc. purchased a new position in Wynn Resorts in the 1st quarter valued at $25,000. AlphaQuest LLC acquired a new stake in shares of Wynn Resorts in the 1st quarter worth $25,000. Manchester Capital Management LLC lifted its stake in shares of Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after acquiring an additional 300 shares during the period. MTM Investment Management LLC purchased a new stake in shares of Wynn Resorts in the second quarter valued at about $31,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

WYNN opened at $125.72 on Friday. The company has a market cap of $13.07 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 9.03 and a beta of 1.10. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.72. The business’s fifty day moving average is $123.81 and its two-hundred day moving average is $112.42.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s dividend payout ratio is 22.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WYNN shares. The Goldman Sachs Group set a $145.00 price objective on shares of Wynn Resorts in a research report on Monday. Macquarie raised their price target on Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Stifel Nicolaus lifted their price target on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Morgan Stanley increased their price objective on Wynn Resorts from $130.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Finally, Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

Wynn Resorts Company Profile

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.