Assenagon Asset Management S.A. Increases Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Assenagon Asset Management raised its stake in Wynn by 5,098.5%, adding 112,421 shares to hold 114,626 shares worth about $13.79 million, roughly 0.11% of the company.
• Wynn's latest quarter missed EPS ($1.17 vs. $1.33 expected) though revenue of $1.87 billion slightly beat estimates; the stock has a $10.37 billion market cap and a consensus "Moderate Buy" rating with an average price target of $138.87.

Assenagon Asset Management S.A. raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 5,098.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,626 shares of the casino operator's stock after acquiring an additional 112,421 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.11% of Wynn Resorts worth $13,793,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Wynn Resorts by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock valued at $665,000 after purchasing an additional 754 shares during the last quarter. Woodline Partners LP lifted its position in shares of Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock worth $632,000 after buying an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after buying an additional 156 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Wynn Resorts by 48.1% in the 2nd quarter. Franklin Resources Inc. now owns 22,414 shares of the casino operator's stock valued at $2,100,000 after buying an additional 7,277 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Wynn Resorts by 3.2% in the 2nd quarter. Prudential Financial Inc. now owns 51,571 shares of the casino operator's stock valued at $4,831,000 after buying an additional 1,592 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $99.47 on Friday. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.72. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 11.54 and a beta of 1.01. The company has a 50-day simple moving average of $108.49 and a 200-day simple moving average of $118.25.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.16). The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.85 billion. Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 EPS. As a group, research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts's payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WYNN. Macquarie Infrastructure reiterated an "outperform" rating and set a $143.00 price target on shares of Wynn Resorts in a research note on Monday, December 8th. Stifel Nicolaus dropped their price objective on Wynn Resorts from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Barclays lifted their target price on Wynn Resorts from $141.00 to $143.00 and gave the stock an "overweight" rating in a research report on Friday, January 16th. Weiss Ratings reissued a "hold (c+)" rating on shares of Wynn Resorts in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price target on Wynn Resorts from $138.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.87.

Wynn Resorts Profile

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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