Lecap Asset Management Ltd. Grows Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Lecap Asset Management Ltd. boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 17.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,632 shares of the casino operator’s stock after purchasing an additional 1,541 shares during the period. Lecap Asset Management Ltd.’s holdings in Wynn Resorts were worth $1,019,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. boosted its holdings in Wynn Resorts by 5.6% in the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. purchased a new stake in Wynn Resorts during the first quarter worth $2,461,000. UniSuper Management Pty Ltd grew its holdings in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after purchasing an additional 8,590 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares during the last quarter. Finally, OPTIMAS CAPITAL Ltd purchased a new stake in shares of Wynn Resorts in the 1st quarter worth about $3,394,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Down 1.7 %

Shares of NASDAQ WYNN opened at $97.68 on Thursday. The stock has a market capitalization of $10.95 billion, a P/E ratio of 13.38, a PEG ratio of 2.57 and a beta of 1.81. The stock’s 50 day moving average price is $86.41 and its two-hundred day moving average price is $89.02. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

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

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is currently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WYNN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Wynn Resorts from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays upped their price objective on shares of Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.21.

About Wynn Resorts

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.