Beech Hill Advisors Inc. Lowers Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Beech Hill Advisors Inc. trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 56.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,500 shares of the casino operator’s stock after selling 3,250 shares during the period. Beech Hill Advisors Inc.’s holdings in Wynn Resorts were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of WYNN. Fisher Asset Management LLC raised its position in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Wynn Resorts by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after purchasing an additional 34,907 shares during the period. Regal Partners Ltd increased its holdings in shares of Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares in the last quarter. Holocene Advisors LP lifted its stake in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Wynn Resorts by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock worth $59,874,000 after buying an additional 10,465 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WYNN shares. 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. Wells Fargo & Company reduced their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Barclays lowered their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $116.36.

Wynn Resorts Stock Down 0.2 %

Shares of WYNN traded down $0.17 on Thursday, hitting $82.24. 67,143 shares of the stock traded hands, compared to its average volume of 2,139,699. The firm has a market capitalization of $9.03 billion, a P/E ratio of 10.14, a P/E/G ratio of 2.40 and a beta of 1.77. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The stock’s 50 day moving average is $89.05 and its two-hundred day moving average is $87.00.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. Research analysts forecast that Wynn Resorts, Limited will post 4.73 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

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.