Barrow Hanley Mewhinney & Strauss LLC Raises Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 18.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,125,668 shares of the casino operator's stock after buying an additional 485,204 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 2.85% of Wynn Resorts worth $269,308,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. State of Tennessee Department of Treasury lifted its position in shares of Wynn Resorts by 73.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after purchasing an additional 10,041 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Wynn Resorts by 190.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock worth $1,706,000 after buying an additional 12,993 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Wynn Resorts in the 4th quarter worth approximately $2,296,000. Brandywine Global Investment Management LLC bought a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $5,216,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Wynn Resorts by 12.4% in the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock valued at $10,577,000 after acquiring an additional 13,553 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the business's stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the acquisition, the insider now directly owns 13,000,000 shares in the company, valued at approximately $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have bought 416,500 shares of company stock valued at $29,254,547. Company insiders own 0.52% of the company's stock.

Wynn Resorts Trading Down 0.7%

Shares of NASDAQ WYNN traded down $0.68 during mid-day trading on Wednesday, hitting $91.86. The company had a trading volume of 495,939 shares, compared to its average volume of 2,532,472. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.35 and a beta of 1.33. The stock's 50-day moving average price is $82.48 and its 200-day moving average price is $85.85.

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

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 1.09%. Wynn Resorts's dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

Several research analysts have weighed in on WYNN shares. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research report on Wednesday, May 7th. Citigroup upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Macquarie reiterated an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Barclays decreased their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $113.18.

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.