Geode Capital Management LLC Reduces Stock Position in Wynn Resorts, Limited $WYNN

Geode Capital Management LLC lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,197,108 shares of the casino operator’s stock after selling 19,790 shares during the quarter. Geode Capital Management LLC’s holdings in Wynn Resorts were worth $263,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its position in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares in the last quarter. Horizon Investments LLC grew its holdings in Wynn Resorts by 6.7% in the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after buying an additional 94 shares during the period. Westside Investment Management Inc. grew its holdings in Wynn Resorts by 40.2% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock valued at $44,000 after buying an additional 97 shares during the period. Parallel Advisors LLC grew its holdings in Wynn Resorts by 21.6% in the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock valued at $72,000 after buying an additional 100 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in Wynn Resorts by 68.2% in the 4th 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 period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the subject of several recent analyst reports. Bank of America lowered their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Barclays lowered their price target on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Mizuho lowered their price target on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Finally, Citigroup lowered their price target on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, May 8th. One 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 MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $106.53 on Tuesday. Wynn Resorts, Limited has a 1 year low of $82.63 and a 1 year high of $134.72. The stock has a market capitalization of $11.06 billion, a P/E ratio of 31.80, a PEG ratio of 0.93 and a beta of 0.98. The stock has a 50-day simple moving average of $102.19 and a 200-day simple moving average of $111.43.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $1.86 billion for 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%.Wynn Resorts’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. Analysts predict that Wynn Resorts, Limited will post 4.68 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared 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 yield of 0.9%. Wynn Resorts’s payout ratio is 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.