Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 148.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 101,039 shares of the casino operator’s stock after acquiring an additional 60,412 shares during the period. Cinctive Capital Management LP owned approximately 0.09% of Wynn Resorts worth $9,688,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WYNN. Coastwise Capital Group LLC increased its position in shares of Wynn Resorts by 21.2% in the 3rd quarter. Coastwise Capital Group LLC now owns 8,106 shares of the casino operator’s stock valued at $777,000 after acquiring an additional 1,419 shares during the period. Biglari Capital CORP. purchased a new stake in Wynn Resorts in the third quarter valued at approximately $13,308,000. Biglari Sardar purchased a new stake in shares of Wynn Resorts in the 3rd quarter valued at $5,868,000. ARGA Investment Management LP purchased a new position in shares of Wynn Resorts during the third quarter worth $2,174,000. Finally, JAT Capital Mgmt LP acquired a new position in Wynn Resorts during the third quarter valued at $6,232,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on WYNN. Stifel Nicolaus lowered their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Barclays decreased their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company reduced their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna raised their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $94.38 on Monday. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock’s fifty day moving average is $94.90 and its two-hundred day moving average is $87.91. The firm has a market capitalization of $10.36 billion, a P/E ratio of 11.64, a PEG ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly 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). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Wynn Resorts, Limited will post 4.78 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’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 completion of the sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by company insiders.

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.