Lecap Asset Management Ltd. Invests $573,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Lecap Asset Management Ltd. bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,288 shares of the casino operator’s stock, valued at approximately $573,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Wynn Resorts by 1,083.8% during the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after buying an additional 401 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Wynn Resorts during the first quarter worth approximately $45,000. Finally, Friedenthal Financial acquired a new position in shares of Wynn Resorts during the fourth quarter worth approximately $46,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WYNN has been the subject of several analyst reports. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Barclays boosted their price objective on Wynn Resorts from $117.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their price objective on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Bank Of America (Bofa) upped their target price on Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.36.

Wynn Resorts Trading Down 3.5 %

NASDAQ:WYNN opened at $101.18 on Monday. Wynn Resorts, Limited has a 1 year low of $81.65 and a 1 year high of $117.86. The firm has a 50 day moving average of $102.72 and a 200-day moving average of $94.71. The stock has a market capitalization of $11.34 billion, a P/E ratio of 16.92 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company posted ($1.23) earnings per share. Wynn Resorts’s quarterly revenue was up 83.1% compared to the same quarter last year. As a group, analysts forecast that Wynn Resorts, Limited will post 5.36 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, February 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now owns 522 shares of the company’s stock, valued at approximately $54,898.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Insiders sold 26,578 shares of company stock worth $2,850,282 in the last quarter. Insiders own 0.52% of the company’s stock.

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.