Duality Advisers LP Increases Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Duality Advisers LP lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 21.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,869 shares of the casino operator’s stock after buying an additional 2,765 shares during the quarter. Duality Advisers LP’s holdings in Wynn Resorts were worth $1,622,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WYNN. Deutsche Bank AG lifted its stake in Wynn Resorts by 24.0% in the 3rd quarter. Deutsche Bank AG now owns 230,328 shares of the casino operator’s stock worth $21,285,000 after purchasing an additional 44,645 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Wynn Resorts in the 3rd quarter worth $9,085,000. Sunbelt Securities Inc. increased its holdings in shares of Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Wynn Resorts by 130.9% in the 4th quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator’s stock worth $13,101,000 after buying an additional 81,338 shares during the last quarter. Finally, Wealth Management Partners LLC increased its holdings in shares of Wynn Resorts by 5.8% in the 4th quarter. Wealth Management Partners LLC now owns 5,527 shares of the casino operator’s stock worth $504,000 after buying an additional 301 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded up $1.45 during midday trading on Friday, hitting $86.06. 1,083,576 shares of the stock traded hands, compared to its average volume of 1,783,758. The firm has a 50-day moving average of $92.03 and a two-hundred day moving average of $96.58. The firm has a market capitalization of $9.64 billion, a P/E ratio of 11.82 and a beta of 1.82. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company’s revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. Equities analysts forecast that Wynn Resorts, Limited will post 5.63 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Analyst Ratings Changes

WYNN has been the topic of a number of research analyst reports. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Thursday. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, May 23rd. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Macquarie reduced their target price on shares of Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating on the stock in a report on Tuesday. Five 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.53.

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.