Patton Fund Management Inc. Has $281,000 Holdings in Wynn Resorts, Limited $WYNN

Patton Fund Management Inc. decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 86.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,769 shares of the casino operator’s stock after selling 17,154 shares during the period. Patton Fund Management Inc.’s holdings in Wynn Resorts were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WYNN. Janney Montgomery Scott LLC raised its position in Wynn Resorts by 4.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 44,434 shares of the casino operator’s stock worth $4,512,000 after purchasing an additional 1,998 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Wynn Resorts by 4.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 17,302 shares of the casino operator’s stock valued at $1,757,000 after buying an additional 816 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Wynn Resorts in the first quarter valued at about $437,000. AGP Franklin LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at about $878,000. Finally, SG Americas Securities LLC raised its position in shares of Wynn Resorts by 2.5% during the first quarter. SG Americas Securities LLC now owns 84,890 shares of the casino operator’s stock worth $8,621,000 after acquiring an additional 2,031 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of recent analyst reports. Mizuho cut their price objective on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Susquehanna lowered their price target on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th. Bank of America reduced their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Morgan Stanley decreased their price objective on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $140.00.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $99.42 on Tuesday. Wynn Resorts, Limited has a fifty-two week low of $92.75 and a fifty-two week high of $134.72. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 0.94 and a beta of 0.98. The firm’s 50-day simple moving average is $102.94 and its 200 day simple moving average is $108.50.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. On average, sell-side analysts predict that Wynn Resorts, Limited will post 4.61 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 29.85%.

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.