Assenagon Asset Management S.A. Has $5.84 Million Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Assenagon Asset Management increased its Wynn Resorts stake by 204.3% in the second quarter, ending with 60,126 shares valued at approximately $5.84 million. Institutional investors own 88.64% of the company.
• Wynn Resorts reported quarterly EPS of $1.24, beating estimates by $0.25, while revenue rose 6.9% year over year to $1.86 billion. The results were supported largely by strength in Macau.
• Analysts maintain a Moderate Buy consensus with an average price target of $134.19, compared with the stock’s $104.79 opening price; Wynn also declared a quarterly dividend of $0.25 per share.

Assenagon Asset Management S.A. increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 204.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,126 shares of the casino operator's stock after purchasing an additional 40,369 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Wynn Resorts worth $5,838,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock worth $30,000 after buying an additional 89 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at $25,000. SHP Wealth Management acquired a new position in shares of Wynn Resorts during the 4th quarter valued at $32,000. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts during the 4th quarter valued at $34,000. Finally, Geneos Wealth Management Inc. boosted its stake in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after acquiring an additional 156 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on WYNN. Stifel Nicolaus set a $143.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Argus raised their target price on Wynn Resorts from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Barclays boosted their target price on Wynn Resorts from $134.00 to $136.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, Citigroup reaffirmed a "buy" rating on shares of Wynn Resorts in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and a consensus price target of $134.19.

Wynn Resorts Trading Up 2.2%

Wynn Resorts stock opened at $104.79 on Wednesday. Wynn Resorts, Limited has a 1-year low of $92.52 and a 1-year high of $134.72. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.01. The firm's fifty day moving average price is $100.45 and its two-hundred day moving average price is $103.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts forecast that Wynn Resorts, Limited will post 4.54 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Wynn Resorts's payout ratio is currently 24.81%.

Key Stories Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Macau-led earnings beat: Wynn’s second-quarter results exceeded expectations, with revenue up year over year and EPS ahead of consensus. The improvement was primarily attributed to strength in Macau, supporting the outlook for the company’s core Asian operations. WYNN's Q2 Beat Puts Macau Strength and Margin Pressure in Focus
• Positive Sentiment: UAE resort construction progress: Wynn Al Marjan Island completed a 550-meter beachfront, sheltered lagoon and reef ahead of its planned opening. The project also continues to generate hospitality hiring and tourism interest in Ras Al Khaimah, potentially expanding Wynn’s long-term growth beyond Macau and Las Vegas. Wynn Al Marjan Island Completes Shoreline, Sheltered Lagoon, and Reef
• Positive Sentiment: Potential asset monetization: Wynn reportedly sold the Villa Lulu property, which could provide cash proceeds and reduce exposure to a non-core real-estate asset. Financial terms were not provided. Wynn Sells Villa Lulu

About Wynn Resorts

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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