Seven Eight Capital LP Takes $730,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Seven Eight Capital LP acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNNFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,010 shares of the casino operator’s stock, valued at approximately $730,000.

Other large investors have also recently bought and sold shares of the company. Cibc World Markets Corp increased its position in shares of Wynn Resorts by 40.2% in the 4th quarter. Cibc World Markets Corp now owns 24,399 shares of the casino operator’s stock valued at $2,223,000 after buying an additional 6,992 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Wynn Resorts by 2.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,762 shares of the casino operator’s stock valued at $1,618,000 after purchasing an additional 480 shares during the period. Armistice Capital LLC increased its stake in Wynn Resorts by 87.8% during the 4th quarter. Armistice Capital LLC now owns 105,155 shares of the casino operator’s stock worth $9,581,000 after purchasing an additional 49,155 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Wynn Resorts by 1.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 40,471 shares of the casino operator’s stock valued at $3,687,000 after buying an additional 465 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $1,376,000. Institutional investors own 68.87% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In related news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of research analyst reports. Seaport Res Ptn upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Stifel Nicolaus boosted their price target on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Mizuho began coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective for the company. Barclays boosted their target price on Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.31.

Get Our Latest Research Report on WYNN

Wynn Resorts Price Performance

Shares of WYNN opened at $92.87 on Tuesday. The firm has a 50-day moving average of $97.73 and a 200-day moving average of $96.43. The company has a market cap of $10.41 billion, a PE ratio of 12.72 and a beta of 1.85. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $112.25.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $0.29 earnings per share. The business’s revenue was up 30.9% compared to the same quarter last year. Analysts expect that Wynn Resorts, Limited will post 5.58 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Wynn Resorts Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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