Lecap Asset Management Ltd. Cuts Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Lecap Asset Management Ltd. cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 29.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,530 shares of the casino operator’s stock after selling 3,102 shares during the period. Lecap Asset Management Ltd.’s holdings in Wynn Resorts were worth $649,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts during the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts in the 3rd quarter worth about $31,000. Spire Wealth Management boosted its position in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares in the last quarter. Blue Trust Inc. grew its holdings in Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the period. Finally, Allworth Financial LP increased its position in shares of Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.1 %

Shares of NASDAQ:WYNN opened at $80.58 on Friday. 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 $8.85 billion, a P/E ratio of 9.94, a PEG ratio of 2.32 and a beta of 1.76. The business has a fifty day moving average of $87.06 and a two-hundred day moving average of $86.86.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WYNN. Susquehanna increased their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Morgan Stanley increased their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Macquarie reissued an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Barclays decreased their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Three investment 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 stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $118.00.

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.