Biglari Capital CORP. Invests $13.31 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Biglari Capital CORP. bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 138,801 shares of the casino operator’s stock, valued at approximately $13,308,000. Wynn Resorts makes up 2.0% of Biglari Capital CORP.’s investment portfolio, making the stock its 6th largest position. Biglari Capital CORP. owned approximately 0.13% of Wynn Resorts at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WYNN. Fisher Asset Management LLC increased its holdings in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the period. Regal Partners Ltd grew its position in shares of Wynn Resorts by 24.0% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Wynn Resorts by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock valued at $59,874,000 after acquiring an additional 10,465 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Wynn Resorts during the third quarter worth about $58,486,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Trading Up 3.0 %

Shares of Wynn Resorts stock opened at $94.38 on Monday. The firm has a market capitalization of $10.36 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. The business’s fifty day simple moving average is $94.90 and its 200 day simple moving average is $87.91. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (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 company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $0.99 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts predict that Wynn Resorts, Limited will post 4.78 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Wynn Resorts’s payout ratio is 12.33%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Susquehanna upped their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley boosted their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.71.

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.