Interval Partners LP Sells 367,738 Shares of Wynn Resorts, Limited $WYNN

Interval Partners LP reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 83.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,235 shares of the casino operator’s stock after selling 367,738 shares during the period. Interval Partners LP’s holdings in Wynn Resorts were worth $9,394,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Wynn Resorts by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock valued at $665,000 after purchasing an additional 754 shares during the period. Woodline Partners LP raised its stake in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after buying an additional 2,012 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Wynn Resorts by 19.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,848 shares of the casino operator’s stock worth $2,043,000 after acquiring an additional 3,602 shares during the period. Finally, Prospera Financial Services Inc increased its holdings in Wynn Resorts by 120.3% in the 2nd quarter. Prospera Financial Services Inc now owns 7,490 shares of the casino operator’s stock worth $702,000 after acquiring an additional 4,090 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN opened at $100.43 on Friday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72. The stock’s 50-day simple moving average is $111.41 and its 200 day simple moving average is $119.67. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 11.78 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm earned $2.42 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were issued 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 of this dividend was Monday, February 23rd. Wynn Resorts’s dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. Zacks Research lowered shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Macquarie Infrastructure reiterated an “outperform” rating and issued a $143.00 target price on shares of Wynn Resorts in a research note on Monday, December 8th. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft set a $144.00 price objective on shares of Wynn Resorts in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus 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.