Kettle Hill Capital Management LLC Grows Stake in Wynn Resorts, Limited $WYNN

Kettle Hill Capital Management LLC grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,185 shares of the casino operator’s stock after buying an additional 4,834 shares during the period. Wynn Resorts accounts for about 5.8% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Kettle Hill Capital Management LLC’s holdings in Wynn Resorts were worth $25,893,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WYNN. MUFG Securities EMEA plc bought a new stake in shares of Wynn Resorts during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its holdings in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares during the last quarter. Cromwell Holdings LLC raised its holdings in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after buying an additional 103 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Wynn Resorts by 69.0% during the first 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. Finally, International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $34,000. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $105.96 on Tuesday. Wynn Resorts, Limited has a 12 month low of $85.96 and a 12 month high of $134.72. The firm has a market capitalization of $11.00 billion, a PE ratio of 31.63, a P/E/G ratio of 1.00 and a beta of 0.98. The company’s 50 day simple moving average is $103.22 and its 200 day simple moving average is $110.33.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. Sell-side analysts anticipate that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts’s payout ratio is 29.85%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WYNN. Susquehanna cut their price target on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a report on Thursday, April 16th. Citigroup cut their price target on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, May 8th. UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. Finally, Jefferies Financial Group lowered their price objective on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

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.