Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,850 shares of the casino operator’s stock after selling 4,825 shares during the quarter. ARGA Investment Management LP’s holdings in Wynn Resorts were worth $1,538,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its holdings in shares of Wynn Resorts by 1.7% in the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after acquiring an additional 112 shares during the last quarter. Fifth Third Bancorp raised its position in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after purchasing an additional 119 shares during the period. Allworth Financial LP lifted its stake in Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Wynn Resorts by 4.1% during the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after buying an additional 181 shares during the period. Finally, Wedmont Private Capital grew its stake in shares of Wynn Resorts by 7.5% in the fourth quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator’s stock valued at $214,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group lowered their target price on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Macquarie reissued an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Susquehanna lifted their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. JPMorgan Chase & Co. increased their target price 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. Finally, Wells Fargo & Company dropped their price target 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. Three investment 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.23.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $83.19 on Wednesday. The business has a 50-day moving average of $87.75 and a two-hundred day moving average of $86.97. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 2.50 and a beta of 1.76. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, equities research analysts expect that Wynn Resorts, Limited will post 4.69 earnings per share for the current year.

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.