Night Squared LP Acquires 44,258 Shares of Wynn Resorts, Limited $WYNN

Night Squared LP lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 824.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 49,626 shares of the casino operator’s stock after buying an additional 44,258 shares during the period. Wynn Resorts comprises approximately 2.3% of Night Squared LP’s portfolio, making the stock its 16th biggest holding. Night Squared LP’s holdings in Wynn Resorts were worth $6,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Root Financial Partners LLC acquired a new position in Wynn Resorts during the 3rd quarter valued at $26,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Wynn Resorts in the 3rd quarter worth $31,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Wynn Resorts by 400.0% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock worth $32,000 after purchasing an additional 200 shares during the period. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the 2nd quarter worth about $25,000. Finally, Manchester Capital Management LLC raised its position in shares of Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on WYNN. Susquehanna reiterated a “positive” rating and issued a $133.00 target price on shares of Wynn Resorts in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $144.00 price objective on Wynn Resorts in a research report on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and set a $148.00 price objective on shares of Wynn Resorts in a report on Monday, December 15th. Finally, Stifel Nicolaus lowered their price objective on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. One 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 stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $138.87.

Wynn Resorts Stock Up 1.7%

NASDAQ WYNN opened at $100.43 on Friday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72. The stock has a market cap of $10.47 billion, a P/E ratio of 33.48, a PEG ratio of 11.78 and a beta of 1.01. The company’s 50-day simple moving average is $111.41 and its 200 day simple moving average is $119.67.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 EPS. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts’s dividend payout ratio (DPR) is 33.33%.

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.