Savoir Faire Capital Management L.P. Raises Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Savoir Faire Capital Management L.P. boosted its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 210.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,749 shares of the casino operator’s stock after purchasing an additional 21,521 shares during the quarter. Savoir Faire Capital Management L.P.’s holdings in Wynn Resorts were worth $2,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Wynn Resorts in the 4th quarter valued at about $157,305,000. Interval Partners LP increased its holdings in shares of Wynn Resorts by 999.0% in the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after purchasing an additional 364,432 shares during the last quarter. Renaissance Technologies LLC lifted its position in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Wynn Resorts by 6,720.4% during the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after buying an additional 253,761 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after buying an additional 204,852 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $78.95 on Tuesday. The company has a market cap of $8.76 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.93 and a beta of 1.80. The stock has a 50-day moving average of $78.74 and a two-hundred day moving average of $90.17. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. On average, analysts anticipate that Wynn Resorts, Limited will post 5.55 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. Wynn Resorts’s payout ratio is 13.70%.

Analyst Ratings Changes

WYNN has been the topic of several analyst reports. UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Stifel Nicolaus decreased their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Macquarie reaffirmed an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.73.

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.