Penn Capital Management Company LLC Acquires Shares of 17,853 Wynn Resorts, Limited $WYNN

Penn Capital Management Company LLC bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 17,853 shares of the casino operator’s stock, valued at approximately $1,752,000.

A number of other large investors have also modified their holdings of WYNN. Capital World Investors lifted its holdings in shares of Wynn Resorts by 0.6% in the 4th quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock valued at $1,148,236,000 after buying an additional 61,209 shares during the period. BlackRock Inc. acquired a new position in Wynn Resorts during the second quarter worth $609,566,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in Wynn Resorts by 9.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock worth $442,890,000 after acquiring an additional 320,502 shares in the last quarter. Egerton Capital UK LLP purchased a new position in Wynn Resorts in the fourth quarter worth $249,053,000. Finally, Invesco Ltd. lifted its holdings in Wynn Resorts by 14.2% in the fourth quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator’s stock valued at $242,039,000 after acquiring an additional 249,704 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $95.26 on Friday. The stock has a fifty day moving average price of $99.00 and a 200 day moving average price of $102.44. The stock has a market cap of $9.81 billion, a PE ratio of 23.64, a P/E/G ratio of 0.83 and a beta of 1.01. Wynn Resorts, Limited has a 1 year low of $92.52 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. Wynn Resorts’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Wynn Resorts, Limited will post 4.65 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.25 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is currently 24.81%.

Analysts Set New Price Targets

WYNN has been the topic of several research analyst reports. Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Truist Financial initiated coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price target for the company. Stifel Nicolaus set a $143.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 5th. Mizuho decreased their price objective on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.19.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.