Long Pond Capital LP Buys 359,793 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Long Pond Capital LP lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 89.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 761,897 shares of the casino operator’s stock after acquiring an additional 359,793 shares during the quarter. Wynn Resorts comprises approximately 3.3% of Long Pond Capital LP’s portfolio, making the stock its 13th largest holding. Long Pond Capital LP’s holdings in Wynn Resorts were worth $65,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WYNN. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Geode Capital Management LLC grew its position in Wynn Resorts by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock valued at $209,120,000 after buying an additional 26,792 shares during the period. Renaissance Technologies LLC increased its holdings in Wynn Resorts by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock worth $139,300,000 after buying an additional 228,000 shares during the last quarter. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter worth about $117,352,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Wynn Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock valued at $82,062,000 after acquiring an additional 5,032 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Activity at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the acquisition, the insider now directly owns 10,905,025 shares of the company’s stock, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 438,700 shares of company stock worth $31,300,943 over the last quarter. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $73.73 on Thursday. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The company has a fifty day moving average of $82.85 and a 200-day moving average of $88.30. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during 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%. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research analyst reports. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Stifel Nicolaus raised their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their price objective for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley dropped their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Macquarie restated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

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.