Cinctive Capital Management LP Raises Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Cinctive Capital Management LP raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 148.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 101,039 shares of the casino operator’s stock after purchasing an additional 60,412 shares during the quarter. Cinctive Capital Management LP’s holdings in Wynn Resorts were worth $9,688,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after acquiring an additional 303,033 shares in the last quarter. Regal Partners Ltd lifted its stake in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Wynn Resorts by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock valued at $59,874,000 after acquiring an additional 10,465 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in shares of Wynn Resorts in the third quarter valued at approximately $58,486,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Up 3.0 %

Shares of NASDAQ WYNN opened at $94.38 on Monday. The business has a 50-day moving average price of $94.90 and a 200 day moving average price of $87.91. The stock has a market cap of $10.36 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts anticipate that Wynn Resorts, Limited will post 4.78 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Barclays lowered their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Susquehanna raised their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Four equities research 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Insider Buying and Selling at Wynn Resorts

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

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.