Penn Capital Management Co. Inc. lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 15.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,958 shares of the casino operator’s stock after selling 544 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Wynn Resorts were worth $958,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in Wynn Resorts by 84.2% in the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. JOYN Advisors Inc. increased its holdings in Wynn Resorts by 1,680.0% in the 4th quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in Wynn Resorts by 47.1% in the 4th quarter. AdvisorNet Financial Inc now owns 456 shares of the casino operator’s stock valued at $45,000 after purchasing an additional 146 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in Wynn Resorts by 42.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 500 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 150 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new stake in Wynn Resorts in the 4th quarter valued at $63,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Patricia Mulroy sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $118.02, for a total value of $50,158.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matt Maddox sold 18,900 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $124.15, for a total transaction of $2,346,435.00. Following the completion of the transaction, the chief executive officer now directly owns 487,399 shares of the company’s stock, valued at approximately $60,510,585.85. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, January 30th. The casino operator reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.30). Wynn Resorts had a net margin of 8.70% and a return on equity of 47.05%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business earned $1.40 EPS. Wynn Resorts’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that Wynn Resorts, Limited will post 6.3 earnings per share for the current fiscal year.
WYNN has been the subject of a number of analyst reports. Deutsche Bank upped their price objective on shares of Wynn Resorts from $123.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 7th. Stifel Nicolaus increased their price target on shares of Wynn Resorts from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Wednesday, January 16th. Zacks Investment Research raised shares of Wynn Resorts from a “strong sell” rating to a “buy” rating and set a $123.00 price target on the stock in a research report on Saturday, January 12th. Nomura reissued a “buy” rating and issued a $145.00 target price (up previously from $132.00) on shares of Wynn Resorts in a report on Thursday, January 31st. Finally, Roth Capital reissued a “buy” rating and issued a $135.00 target price (down previously from $140.00) on shares of Wynn Resorts in a report on Thursday, January 31st. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $150.35.
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About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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