Nicholas Investment Partners LP Acquires 15,074 Shares of Wynn Resorts, Limited $WYNN

Nicholas Investment Partners LP grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 288.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,297 shares of the casino operator’s stock after purchasing an additional 15,074 shares during the quarter. Nicholas Investment Partners LP’s holdings in Wynn Resorts were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of WYNN. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the 2nd quarter valued at $25,000. Hantz Financial Services Inc. raised its holdings in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Cromwell Holdings LLC raised its holdings in shares of Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Wynn Resorts by 69.0% during the 1st 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 in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the 4th quarter valued at $34,000. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $107.27 on Friday. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 1.00 and a beta of 0.98. The company’s fifty day moving average is $103.14 and its two-hundred day moving average is $110.57. Wynn Resorts, Limited has a 52-week low of $83.45 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. The company 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 quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business 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. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WYNN. Mizuho cut their price target on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Morgan Stanley lowered their target price on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Susquehanna lowered their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Jefferies Financial Group lowered their target price 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. Finally, JPMorgan Chase & Co. lowered their target price on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently 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.