Bridger Management LLC Cuts Stock Holdings in Wynn Resorts, Limited $WYNN

Bridger Management LLC reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 14.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,895 shares of the casino operator’s stock after selling 11,143 shares during the period. Wynn Resorts comprises approximately 3.7% of Bridger Management LLC’s holdings, making the stock its 13th largest position. Bridger Management LLC owned approximately 0.06% of Wynn Resorts worth $6,266,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WYNN. Regal Partners Ltd increased its holdings in shares of Wynn Resorts by 21.5% in the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock worth $91,147,000 after purchasing an additional 192,873 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator’s stock valued at $82,834,000 after buying an additional 111,428 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in Wynn Resorts by 53.4% in the 2nd quarter. DAVENPORT & Co LLC now owns 913,086 shares of the casino operator’s stock worth $85,895,000 after buying an additional 317,850 shares in the last quarter. Nuveen LLC purchased a new position in Wynn Resorts in the 1st quarter worth about $41,731,000. Finally, Long Focus Capital Management LLC lifted its stake in Wynn Resorts by 84.0% during the 1st quarter. Long Focus Capital Management LLC now owns 300,000 shares of the casino operator’s stock valued at $25,050,000 after acquiring an additional 137,000 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WYNN shares. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, November 5th. UBS Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Stifel Nicolaus increased their target price on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $133.00.

Wynn Resorts Trading Down 2.1%

NASDAQ:WYNN opened at $118.14 on Tuesday. The stock has a 50-day moving average price of $123.48 and a 200 day moving average price of $109.46. The stock has a market capitalization of $12.28 billion, a P/E ratio of 35.48, a P/E/G ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts 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.