Suvretta Capital Management LLC Buys Shares of 133,000 Wynn Resorts, Limited (NASDAQ:WYNN)

Suvretta Capital Management LLC bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 133,000 shares of the casino operator’s stock, valued at approximately $12,752,000. Suvretta Capital Management LLC owned 0.12% of Wynn Resorts at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WYNN. Fisher Asset Management LLC grew its holdings in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in Wynn Resorts during the third quarter valued at $58,486,000. Renaissance Technologies LLC grew its stake in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after purchasing an additional 253,761 shares during the last quarter. Finally, Regal Partners Ltd raised its stake in shares of 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 purchasing an additional 174,005 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 0.2 %

Shares of WYNN stock opened at $91.67 on Friday. The firm has a market capitalization of $10.07 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 3.36 and a beta of 1.80. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm’s fifty day simple moving average is $94.38 and its 200 day simple moving average is $87.98.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Wynn Resorts, Limited will post 4.78 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction 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 transaction, the director now directly 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 legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on WYNN shares. JPMorgan Chase & Co. boosted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus cut their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, 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 research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts 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.