Sanders Morris Harris LLC Acquires Shares of 7,500 Wynn Resorts, Limited (NASDAQ:WYNN)

Sanders Morris Harris LLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,500 shares of the casino operator’s stock, valued at approximately $665,000.

Other hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $3,088,000. Wedmont Private Capital increased its stake in shares of Wynn Resorts by 7.5% in the fourth quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator’s stock worth $214,000 after purchasing an additional 183 shares in the last quarter. Czech National Bank boosted its holdings in shares of Wynn Resorts by 5.3% in the fourth quarter. Czech National Bank now owns 20,059 shares of the casino operator’s stock worth $1,728,000 after acquiring an additional 1,010 shares during the period. LVM Capital Management Ltd. MI bought a new stake in shares of Wynn Resorts during the 4th quarter valued at $532,000. Finally, GAMMA Investing LLC boosted its stake in Wynn Resorts by 91.9% in the 4th quarter. GAMMA Investing LLC now owns 2,885 shares of the casino operator’s stock worth $249,000 after purchasing an additional 1,382 shares during the period. Institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Barclays lowered their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Morgan Stanley lifted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.36.

Wynn Resorts Stock Up 0.5 %

NASDAQ WYNN opened at $82.81 on Thursday. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 2.40 and a beta of 1.77. The company has a 50-day simple moving average of $89.05 and a two-hundred day simple moving average of $87.00. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results 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). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts expect that Wynn Resorts, Limited will post 4.73 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

About Wynn Resorts

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.