Armistice Capital LLC Has $21.20 Million Stake in Wynn Resorts, Limited $WYNN

Armistice Capital LLC grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 50.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 176,190 shares of the casino operator’s stock after acquiring an additional 59,246 shares during the period. Armistice Capital LLC’s holdings in Wynn Resorts were worth $21,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new stake in Wynn Resorts in the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. increased its position in Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after buying an additional 89 shares during the period. Cromwell Holdings LLC increased its position 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 purchasing an additional 103 shares during the period. Geneos Wealth Management Inc. increased its position 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 purchasing an additional 156 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $34,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays lowered their price target on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price target on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Citigroup decreased 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. Susquehanna cut their target price on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Finally, UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Wynn Resorts Trading Down 1.3%

Shares of NASDAQ WYNN opened at $102.31 on Thursday. The stock has a 50 day moving average of $103.24 and a 200-day moving average of $109.95. The company has a market capitalization of $10.62 billion, a P/E ratio of 30.54, a P/E/G ratio of 0.97 and a beta of 0.98. Wynn Resorts, Limited has a 12 month low of $86.53 and a 12 month high of $134.72.

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

Wynn Resorts Dividend Announcement

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

Wynn Resorts 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.