Stevens Capital Management LP Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Stevens Capital Management LP bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,409 shares of the casino operator’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WYNN. Fox Run Management L.L.C. bought a new position in Wynn Resorts in the 4th quarter valued at $1,160,000. Virtu Financial LLC purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $2,942,000. Northwest & Ethical Investments L.P. grew its position in Wynn Resorts by 63.3% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,450 shares of the casino operator’s stock valued at $211,000 after buying an additional 950 shares during the period. Blueshift Asset Management LLC purchased a new stake in Wynn Resorts during the fourth quarter worth about $533,000. Finally, Magnetar Financial LLC purchased a new stake in Wynn Resorts during the fourth quarter worth about $281,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Up 2.7 %

WYNN opened at $84.87 on Tuesday. The business’s fifty day simple moving average is $85.78 and its 200 day simple moving average is $89.06. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market cap of $9.01 billion, a PE ratio of 20.16, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, equities analysts anticipate 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 5th. Investors of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WYNN. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and raised their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Stifel Nicolaus boosted their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Barclays increased their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

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.