Biglari Capital CORP. Invests $13.31 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Biglari Capital CORP. bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, Holdings Channel.com reports. The institutional investor bought 138,801 shares of the casino operator’s stock, valued at approximately $13,308,000. Wynn Resorts comprises about 2.0% of Biglari Capital CORP.’s holdings, making the stock its 6th biggest holding.

Other institutional investors also recently modified their holdings of the company. Regal Partners Ltd lifted its position in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after buying an additional 174,005 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Wynn Resorts by 326.5% during the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after purchasing an additional 19,889 shares during the last quarter. Crystal Rock Capital Management purchased a new position in Wynn Resorts in the 3rd quarter worth $719,000. MBB Public Markets I LLC bought a new stake in Wynn Resorts in the second quarter worth $698,000. Finally, APG Asset Management N.V. boosted its position in Wynn Resorts by 231.0% during the second quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock valued at $933,000 after buying an additional 7,800 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Up 3.0 %

Shares of WYNN stock opened at $94.38 on Monday. The firm has a market capitalization of $10.36 billion, a PE ratio of 11.64, a P/E/G ratio of 3.46 and a beta of 1.78. The company has a 50 day moving average price of $94.90 and a 200-day moving average price of $87.91. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

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

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.06%. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on WYNN. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday, November 5th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Barclays dropped their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus lowered their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.71.

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.