Wedge Capital Management L L P NC Sells 15,838 Shares of Wynn Resorts, Limited $WYNN

Wedge Capital Management L L P NC cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,148 shares of the casino operator’s stock after selling 15,838 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.28% of Wynn Resorts worth $34,673,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Capital World Investors raised its holdings in Wynn Resorts by 0.7% during the third quarter. Capital World Investors now owns 9,481,183 shares of the casino operator’s stock worth $1,216,151,000 after acquiring an additional 69,793 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Wynn Resorts by 56.5% in the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after buying an additional 482,570 shares in the last quarter. Norges Bank acquired a new position in Wynn Resorts during the second quarter worth $106,289,000. Palidye Holdings Caymans Ltd bought a new stake in Wynn Resorts during the second quarter worth $104,629,000. Finally, Raymond James Financial Inc. raised its position in Wynn Resorts by 5.3% during the third quarter. Raymond James Financial Inc. now owns 1,111,574 shares of the casino operator’s stock worth $142,582,000 after acquiring an additional 55,555 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating and set a $148.00 price objective on shares of Wynn Resorts in a report on Monday, December 15th. Finally, UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.87.

Wynn Resorts Stock Down 2.9%

Shares of Wynn Resorts stock opened at $96.59 on Friday. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 11.27 and a beta of 1.01. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72. The company has a 50-day simple moving average of $108.14 and a two-hundred day simple moving average of $118.07.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a $0.25 dividend. 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 payout ratio is 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.