Mirador Capital Partners LP Reduces Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Mirador Capital Partners LP lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,536 shares of the casino operator’s stock after selling 2,868 shares during the period. Mirador Capital Partners LP’s holdings in Wynn Resorts were worth $4,010,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Wynn Resorts during the 2nd quarter valued at approximately $194,000. Federated Hermes Inc. lifted its stake in Wynn Resorts by 483.6% during the 2nd quarter. Federated Hermes Inc. now owns 15,500 shares of the casino operator’s stock valued at $1,387,000 after acquiring an additional 12,844 shares during the period. Envestnet Asset Management Inc. lifted its stake in Wynn Resorts by 2,800.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 117,381 shares of the casino operator’s stock valued at $10,506,000 after acquiring an additional 113,334 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in Wynn Resorts by 14.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,080 shares of the casino operator’s stock valued at $544,000 after acquiring an additional 772 shares during the period. Finally, Amalgamated Bank lifted its stake in Wynn Resorts by 53.9% during the 2nd quarter. Amalgamated Bank now owns 31,846 shares of the casino operator’s stock valued at $2,850,000 after acquiring an additional 11,155 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley boosted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Macquarie reiterated an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Susquehanna boosted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.36.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $82.81 on Thursday. The firm has a market cap of $9.09 billion, a PE ratio of 10.21, a PEG ratio of 2.40 and a beta of 1.77. The firm has a fifty day moving average of $89.05 and a 200 day moving average of $87.00. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm posted $0.99 EPS. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts, Limited will post 4.73 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced 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 1.21%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

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.