Wynn Resorts, Limited (NASDAQ:WYNN) Shares Acquired by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 210.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 31,749 shares of the casino operator’s stock after acquiring an additional 21,521 shares during the quarter. Savoir Faire Capital Management L.P.’s holdings in Wynn Resorts were worth $2,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after buying an additional 303,033 shares in the last quarter. Mystic Asset Management Inc. boosted its stake in Wynn Resorts by 2.0% in the second quarter. Mystic Asset Management Inc. now owns 11,853 shares of the casino operator’s stock valued at $1,061,000 after acquiring an additional 237 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in Wynn Resorts by 21.9% in the second quarter. J.W. Cole Advisors Inc. now owns 11,629 shares of the casino operator’s stock valued at $1,041,000 after acquiring an additional 2,088 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Wynn Resorts by 2,800.4% during the second quarter. Envestnet Asset Management Inc. now owns 117,381 shares of the casino operator’s stock worth $10,506,000 after purchasing an additional 113,334 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Wynn Resorts by 483.6% in the 2nd quarter. Federated Hermes Inc. now owns 15,500 shares of the casino operator’s stock valued at $1,387,000 after purchasing an additional 12,844 shares during the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 0.6 %

NASDAQ:WYNN opened at $78.95 on Tuesday. The firm’s fifty day simple moving average is $78.74 and its 200-day simple moving average is $90.17. The stock has a market cap of $8.76 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.93 and a beta of 1.80. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Wynn Resorts, Limited will post 5.55 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.27%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Wall Street Analyst Weigh In

Several research firms have commented on WYNN. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. 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 reduced their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group lowered their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.73.

About Wynn Resorts

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.