Zweig DiMenna Associates LLC Reduces Holdings in Wynn Resorts, Limited $WYNN

Zweig DiMenna Associates LLC cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 10.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,467 shares of the casino operator’s stock after selling 5,000 shares during the period. Zweig DiMenna Associates LLC’s holdings in Wynn Resorts were worth $5,447,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in Wynn Resorts in the second quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in shares of Wynn Resorts in the third quarter valued at approximately $26,000. Manchester Capital Management LLC increased its stake in shares of Wynn Resorts by 1,500.0% during the 2nd 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 last quarter. MTM Investment Management LLC acquired a new position in shares of Wynn Resorts during the second quarter worth approximately $31,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Wynn Resorts during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WYNN shares. JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. The Goldman Sachs Group reissued a “buy” rating and set a $148.00 price target on shares of Wynn Resorts in a report on Monday, December 15th. Morgan Stanley raised their price target on Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Stifel Nicolaus reduced their price target on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft set a $144.00 price objective on Wynn Resorts in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

Wynn Resorts Stock Up 5.1%

Shares of NASDAQ WYNN opened at $113.39 on Tuesday. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 9.79 and a beta of 1.06. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72. The company’s fifty day moving average is $118.12 and its 200-day moving average is $120.30.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 12th. The casino operator reported $1.17 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 the consensus estimate of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 38.04%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. On average, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts’s payout ratio is currently 33.33%.

About Wynn Resorts

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.