Suvretta Capital Management LLC Purchases New Shares in Wynn Resorts, Limited (NASDAQ:WYNN)

Suvretta Capital Management LLC acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 133,000 shares of the casino operator’s stock, valued at approximately $12,752,000.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the 2nd quarter worth about $25,000. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the second quarter valued at approximately $51,000. GAMMA Investing LLC raised its position in Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after purchasing an additional 166 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after buying an additional 133 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $91.67 on Friday. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 3.36 and a beta of 1.80. The business has a 50 day simple moving average of $94.38 and a 200 day simple moving average of $87.98. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. On average, analysts predict that Wynn Resorts, Limited will post 4.78 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio is 12.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WYNN shares. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th. Susquehanna lifted their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.