Contravisory Investment Management Inc. Has $954,000 Position in Wynn Resorts, Limited $WYNN

Contravisory Investment Management Inc. lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 1,076.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,931 shares of the casino operator’s stock after acquiring an additional 7,257 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Wynn Resorts were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WYNN. Norges Bank bought a new stake in Wynn Resorts during the second quarter worth approximately $106,289,000. Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts in the second quarter worth $104,629,000. Zurich Insurance Group Ltd FI bought a new position in shares of Wynn Resorts during the 3rd quarter worth about $110,213,000. Thrivent Financial for Lutherans lifted its stake in shares of Wynn Resorts by 6,391.3% in the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after buying an additional 737,234 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Wynn Resorts in the third quarter valued at $73,588,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN opened at $101.13 on Tuesday. The firm has a 50-day moving average of $109.42 and a 200-day moving average of $118.63. The company has a market cap of $10.55 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 11.33 and a beta of 1.01. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $2.42 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WYNN shares. Jefferies Financial Group upped their price objective on Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Morgan Stanley decreased their price objective on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Barclays increased their price objective on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Stifel Nicolaus decreased their target price on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Texas Capital upgraded Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.87.

Wynn Resorts Profile

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.