Boothbay Fund Management LLC Has $3.48 Million Position in Wynn Resorts, Limited $WYNN

Boothbay Fund Management LLC raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 79.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,135 shares of the casino operator’s stock after buying an additional 12,021 shares during the period. Boothbay Fund Management LLC’s holdings in Wynn Resorts were worth $3,481,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its position in shares of Wynn Resorts by 56.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 359,207 shares of the casino operator’s stock worth $46,082,000 after purchasing an additional 129,673 shares during the period. Creative Planning boosted its stake in shares of Wynn Resorts by 6.1% in the 3rd quarter. Creative Planning now owns 10,395 shares of the casino operator’s stock valued at $1,333,000 after purchasing an additional 601 shares during the last quarter. Credit Agricole S A acquired a new stake in shares of Wynn Resorts during the third quarter worth $3,352,000. Raymond James Financial Inc. raised its stake in Wynn Resorts by 5.3% during the third quarter. Raymond James Financial Inc. now owns 1,111,574 shares of the casino operator’s stock worth $142,582,000 after buying an additional 55,555 shares during the last quarter. Finally, Amundi bought a new position in Wynn Resorts during the third quarter worth $4,640,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $100.63 on Tuesday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72. The business’s 50 day simple moving average is $111.03 and its two-hundred day simple moving average is $119.46. The firm has a market cap of $10.49 billion, a P/E ratio of 33.54, a PEG ratio of 11.98 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, February 23rd. Wynn Resorts’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analyst Weigh In

A number of analysts have commented on WYNN shares. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Macquarie Infrastructure restated an “outperform” rating and set a $143.00 target price on shares of Wynn Resorts in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $144.00 target price on Wynn Resorts in a research note on Friday, February 13th. Finally, UBS Group reiterated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $138.87.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.