GAMMA Investing LLC Grows Position in Wynn Resorts, Limited (NASDAQ:WYNN)

GAMMA Investing LLC grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 91.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,885 shares of the casino operator’s stock after buying an additional 1,382 shares during the period. GAMMA Investing LLC’s holdings in Wynn Resorts were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Holocene Advisors LP lifted its stake in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after buying an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Wynn Resorts in the 3rd quarter worth $58,486,000. Renaissance Technologies LLC increased its stake in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in Wynn Resorts during the third quarter valued at about $19,753,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $82.45 on Wednesday. The stock has a 50 day moving average price of $90.43 and a 200-day moving average price of $87.30. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $0.99 EPS. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Wynn Resorts, Limited will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Wynn Resorts’s payout ratio is 12.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group dropped their price objective on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, January 3rd. Barclays cut their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Morgan Stanley boosted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.36.

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.