Lecap Asset Management Ltd. Acquires 1,541 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Lecap Asset Management Ltd. increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 17.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,632 shares of the casino operator’s stock after acquiring an additional 1,541 shares during the period. Lecap Asset Management Ltd.’s holdings in Wynn Resorts were worth $1,019,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $25,000. Register Financial Advisors LLC bought a new stake in shares of Wynn Resorts in the 1st quarter valued at about $37,000. Blue Trust Inc. lifted its holdings in Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after acquiring an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts during the second quarter worth $51,000. Finally, Covestor Ltd raised its stake in shares of Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on WYNN shares. Stifel Nicolaus lowered their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company increased their price objective on Wynn Resorts from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. decreased their price target on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.21.

Wynn Resorts Trading Down 1.7 %

Shares of NASDAQ WYNN opened at $97.68 on Thursday. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.57 and a beta of 1.81. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The stock’s 50-day moving average is $86.41 and its 200 day moving average is $89.02.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, analysts forecast that Wynn Resorts, Limited will post 5.42 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.