Apollon Wealth Management LLC Cuts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Apollon Wealth Management LLC reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 35.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,538 shares of the casino operator’s stock after selling 1,420 shares during the period. Apollon Wealth Management LLC’s holdings in Wynn Resorts were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WYNN. Fisher Asset Management LLC grew its stake in shares of Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares in the last quarter. Holocene Advisors LP lifted its holdings in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after purchasing an additional 755,236 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of Wynn Resorts during the 3rd quarter valued at $58,486,000. Weiss Asset Management LP bought a new position in Wynn Resorts during the third quarter valued at about $19,753,000. Finally, Regal Partners Ltd raised its holdings in shares of Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $88.82 on Friday. The business’s fifty day moving average is $85.66 and its two-hundred day moving average is $86.86. The firm has a market cap of $9.75 billion, a P/E ratio of 10.95, a P/E/G ratio of 2.32 and a beta of 1.76. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. On average, equities research analysts predict that Wynn Resorts, Limited will post 4.69 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.50.

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.