Atom Investors LP Has $1.15 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Atom Investors LP lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,000 shares of the casino operator’s stock after selling 562 shares during the period. Atom Investors LP’s holdings in Wynn Resorts were worth $1,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ARGA Investment Management LP bought a new position in shares of Wynn Resorts in the 3rd quarter worth about $2,174,000. JAT Capital Mgmt LP purchased a new stake in shares of Wynn Resorts in the third quarter valued at $6,232,000. Captrust Financial Advisors increased its holdings in Wynn Resorts by 41.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock worth $399,000 after purchasing an additional 1,215 shares during the period. Suvretta Capital Management LLC purchased a new stake in Wynn Resorts during the third quarter valued at approximately $12,752,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in Wynn Resorts in the 3rd quarter worth approximately $144,000. 68.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on WYNN. Morgan Stanley raised their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Susquehanna lifted their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $93.76 on Wednesday. The firm has a 50 day moving average price of $95.22 and a 200 day moving average price of $87.84. The company has a market capitalization of $10.30 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 3.53 and a beta of 1.78. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. Wynn Resorts’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 4.78 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio is currently 12.33%.

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.