Savoir Faire Capital Management L.P. Sells 17,947 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Savoir Faire Capital Management L.P. trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 56.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,802 shares of the casino operator’s stock after selling 17,947 shares during the period. Savoir Faire Capital Management L.P.’s holdings in Wynn Resorts were worth $1,323,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of WYNN. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the second quarter worth $25,000. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts during the second quarter worth $51,000. Covestor Ltd grew its stake in shares of Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after purchasing an additional 506 shares during the period. Finally, GAMMA Investing LLC grew its stake in Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on WYNN shares. Stifel Nicolaus cut their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. JPMorgan Chase & Co. increased their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Susquehanna upped their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Finally, Barclays dropped their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

WYNN opened at $90.46 on Tuesday. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 3.26 and a beta of 1.80. The company has a fifty day moving average of $92.39 and a 200 day moving average of $88.17. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

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.