Sirios Capital Management L P Takes Position in Wynn Resorts, Limited $WYNN

Sirios Capital Management L P bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,672 shares of the casino operator’s stock, valued at approximately $1,241,000.

Several other institutional investors also recently added to or reduced their stakes in WYNN. Root Financial Partners LLC purchased a new stake in Wynn Resorts in the third quarter valued at approximately $26,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at $31,000. Atlantic Edge Private Wealth Management LLC raised its position in Wynn Resorts by 400.0% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Wynn Resorts in the 2nd quarter valued at $25,000. Finally, Manchester Capital Management LLC boosted its stake in 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 period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. UBS Group reissued a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Jefferies Financial Group upped their price objective on Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Zacks Research cut Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.87.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $100.43 on Friday. The firm has a market capitalization of $10.47 billion, a P/E ratio of 33.48, a PEG ratio of 11.78 and a beta of 1.01. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.72. The company’s fifty day moving average is $111.41 and its two-hundred day moving average is $119.67.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly 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). The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.42 earnings per share. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s payout ratio is currently 33.33%.

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.