Zweig DiMenna Associates LLC Sells 22,750 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Zweig DiMenna Associates LLC decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 19.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,217 shares of the casino operator’s stock after selling 22,750 shares during the period. Zweig DiMenna Associates LLC owned 0.09% of Wynn Resorts worth $9,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Interval Partners LP raised its holdings in Wynn Resorts by 999.0% during the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after purchasing an additional 364,432 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Wynn Resorts by 29.1% during the second 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 during the period. Sequoia Financial Advisors LLC lifted its holdings in Wynn Resorts by 6,720.4% in the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after buying an additional 253,761 shares during the period. Janus Henderson Group PLC lifted its holdings in Wynn Resorts by 22.2% in the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after buying an additional 204,852 shares during the period. Finally, Vanguard Group Inc. boosted its position in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WYNN shares. JPMorgan Chase & Co. dropped their price objective 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. Barclays boosted their price target on Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group dropped their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Morgan Stanley lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.21.

Wynn Resorts Stock Performance

WYNN stock opened at $97.90 on Friday. The business has a 50-day simple moving average of $87.32 and a two-hundred day simple moving average of $89.14. The company has a market capitalization of $10.97 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.81. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

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

Wynn Resorts Announces Dividend

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

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by corporate insiders.

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.