Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Appaloosa LP

Appaloosa LP lowered its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 37.5% during the 4th quarter, Holdings Channel reports. The fund owned 500,000 shares of the casino operator’s stock after selling 300,000 shares during the period. Appaloosa LP’s holdings in Wynn Resorts were worth $43,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in WYNN. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts during the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new stake in Wynn Resorts during the 3rd quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts during the 4th quarter valued at $36,000. Spire Wealth Management raised its stake in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after acquiring an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a filing 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 Stock Down 2.0 %

Shares of Wynn Resorts stock opened at $85.67 on Thursday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market capitalization of $9.12 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The stock’s fifty day moving average is $85.42 and its 200-day moving average is $88.52.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Wynn Resorts’s dividend payout ratio is 23.75%.

Analyst Ratings Changes

A number of research firms have recently commented on WYNN. Barclays boosted their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Mizuho boosted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Stifel Nicolaus boosted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Morgan Stanley dropped their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts 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.