Sanders Morris Harris LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Sanders Morris Harris LLC bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, HoldingsChannel reports. The firm bought 7,500 shares of the casino operator’s stock, valued at approximately $665,000.

Several other hedge funds also recently made changes to their positions in the company. Oak Thistle LLC bought a new position in shares of Wynn Resorts in the 4th quarter worth about $3,088,000. Wedmont Private Capital grew its holdings in shares of Wynn Resorts by 7.5% during 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 during the last quarter. Czech National Bank lifted its position in Wynn Resorts by 5.3% in the 4th quarter. Czech National Bank now owns 20,059 shares of the casino operator’s stock valued at $1,728,000 after acquiring an additional 1,010 shares in the last quarter. LVM Capital Management Ltd. MI purchased a new stake in shares of Wynn Resorts during the fourth quarter valued at $532,000. Finally, GAMMA Investing LLC increased its holdings in Wynn Resorts by 91.9% in the 4th quarter. GAMMA Investing LLC now owns 2,885 shares of the casino operator’s stock worth $249,000 after buying an additional 1,382 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Finally, Wells Fargo & Company dropped their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.36.

Wynn Resorts Stock Up 0.5 %

NASDAQ WYNN opened at $82.81 on Thursday. The business has a 50-day moving average price of $89.05 and a 200-day moving average price of $87.00. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 2.40 and a beta of 1.77. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data 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 net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Wynn Resorts, Limited will post 4.73 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s 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.