Assenagon Asset Management S.A. Has $32.29 Million Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Assenagon Asset Management S.A. increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 758.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 386,721 shares of the casino operator's stock after acquiring an additional 341,688 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.36% of Wynn Resorts worth $32,291,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Wynn Resorts by 38.7% during the first quarter. SG Americas Securities LLC now owns 27,370 shares of the casino operator's stock valued at $2,285,000 after buying an additional 7,640 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Wynn Resorts by 10.6% during the first quarter. GAMMA Investing LLC now owns 3,191 shares of the casino operator's stock valued at $266,000 after buying an additional 306 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Wynn Resorts by 19.6% during the first quarter. Wedge Capital Management L L P NC now owns 56,807 shares of the casino operator's stock valued at $4,743,000 after buying an additional 9,298 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after buying an additional 409 shares in the last quarter. Finally, Grassi Investment Management grew its holdings in shares of Wynn Resorts by 4.2% during the first quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock valued at $308,000 after buying an additional 150 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director now directly owns 3,066 shares in the company, valued at $282,439.92. This trade represents a 42.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of Wynn Resorts stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the transaction, the insider now directly owns 12,600,000 shares in the company, valued at $1,070,118,000. The trade was a 0.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 416,500 shares of company stock worth $29,254,547. Insiders own 0.52% of the company's stock.

Wynn Resorts Trading Down 3.3%

NASDAQ WYNN traded down $2.89 during trading hours on Friday, reaching $84.18. 2,024,576 shares of the company's stock were exchanged, compared to its average volume of 2,592,977. The stock has a market cap of $8.80 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37. The firm has a fifty day moving average of $84.43 and a 200-day moving average of $85.58. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm's quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.59 earnings per share. As a group, research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. Wynn Resorts's payout ratio is 27.78%.

Analyst Ratings Changes

A number of brokerages have commented on WYNN. Barclays lowered their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Mizuho cut their price target on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.18.

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.