Hodges Capital Management Inc. Purchases 68,327 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Hodges Capital Management Inc. lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 45.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 217,238 shares of the casino operator’s stock after buying an additional 68,327 shares during the quarter. Wynn Resorts comprises 1.4% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding. Hodges Capital Management Inc. owned 0.19% of Wynn Resorts worth $22,209,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Wynn Resorts during the fourth quarter worth approximately $157,305,000. Eminence Capital LP bought a new stake in Wynn Resorts during the fourth quarter worth approximately $15,089,000. Honeycomb Asset Management LP bought a new stake in Wynn Resorts during the fourth quarter worth approximately $13,666,000. Bamco Inc. NY lifted its holdings in shares of Wynn Resorts by 25.7% during the third quarter. Bamco Inc. NY now owns 644,474 shares of the casino operator’s stock worth $59,556,000 after buying an additional 131,937 shares during the last quarter. Finally, TORQ CAPITAL MANAGEMENT HK Ltd lifted its holdings in shares of Wynn Resorts by 108.1% during the fourth quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 220,600 shares of the casino operator’s stock worth $20,099,000 after buying an additional 114,600 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WYNN shares. Mizuho started coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Stifel Nicolaus raised their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised their target price on Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Barclays raised their target price on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.31.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded up $0.36 during midday trading on Friday, reaching $89.50. The company’s stock had a trading volume of 2,199,448 shares, compared to its average volume of 1,749,966. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $112.25. The company has a market capitalization of $10.03 billion, a P/E ratio of 12.26 and a beta of 1.85. The business’s fifty day simple moving average is $93.80 and its 200-day simple moving average is $96.78.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company’s revenue was up 30.9% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. On average, analysts forecast that Wynn Resorts, Limited will post 5.59 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. Wynn Resorts’s payout ratio is 13.70%.

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.