Patton Fund Management Inc. Has $281,000 Stock Position in Wynn Resorts, Limited $WYNN

Patton Fund Management Inc. lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 86.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,769 shares of the casino operator’s stock after selling 17,154 shares during the period. Patton Fund Management Inc.’s holdings in Wynn Resorts were worth $281,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WYNN. Janney Montgomery Scott LLC grew its stake in Wynn Resorts by 4.7% during the first quarter. Janney Montgomery Scott LLC now owns 44,434 shares of the casino operator’s stock worth $4,512,000 after buying an additional 1,998 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Wynn Resorts by 4.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 17,302 shares of the casino operator’s stock valued at $1,757,000 after buying an additional 816 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Wynn Resorts during the 1st quarter worth approximately $437,000. AGP Franklin LLC acquired a new stake in shares of Wynn Resorts during the 1st quarter worth approximately $878,000. Finally, SG Americas Securities LLC increased its stake in Wynn Resorts by 2.5% in the first quarter. SG Americas Securities LLC now owns 84,890 shares of the casino operator’s stock valued at $8,621,000 after acquiring an additional 2,031 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Down 1.0%

NASDAQ WYNN opened at $99.42 on Tuesday. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 0.94 and a beta of 0.98. Wynn Resorts, Limited has a twelve month low of $92.75 and a twelve month high of $134.72. The business’s fifty day moving average is $102.94 and its 200 day moving average is $108.50.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. On average, research analysts anticipate that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on WYNN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Susquehanna dropped their price objective on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research report on Thursday, April 16th. Bank of America reduced their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Citigroup decreased their target price on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Morgan Stanley lowered their target price on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. 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 company’s stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $140.00.

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.