Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,310,354 shares of the casino operator's stock, valued at approximately $321,402,000. Barrow Hanley Mewhinney & Strauss LLC owned about 3.21% of Wynn Resorts at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in Wynn Resorts by 46.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator's stock valued at $92,676,000 after acquiring an additional 243,179 shares during the period. Pacer Advisors Inc. lifted its position in Wynn Resorts by 97.5% during the 4th quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator's stock worth $2,697,000 after acquiring an additional 11,067 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $1,053,000. Amundi grew its stake in shares of Wynn Resorts by 161.6% in the 1st quarter. Amundi now owns 65,492 shares of the casino operator's stock valued at $6,651,000 after purchasing an additional 40,454 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Wynn Resorts by 204.3% in the second quarter. Assenagon Asset Management S.A. now owns 60,126 shares of the casino operator's stock valued at $5,838,000 after purchasing an additional 40,369 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on WYNN. Wells Fargo & Company decreased their price target on Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. JPMorgan Chase & Co. cut their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Morgan Stanley restated an "overweight" rating and issued a $128.00 target price on shares of Wynn Resorts in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Finally, Citigroup reiterated 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 and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.19.
View Our Latest Stock Report on WYNN
Wynn Resorts Stock Performance
Shares of NASDAQ WYNN opened at $100.28 on Monday. Wynn Resorts, Limited has a one year low of $92.52 and a one year high of $134.72. The firm has a market capitalization of $10.33 billion, a P/E ratio of 24.88, a PEG ratio of 0.88 and a beta of 1.01. The company's fifty day moving average is $99.78 and its two-hundred day moving average is $102.95.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm posted $1.09 EPS. The business's revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 4.63 earnings per share for the current fiscal year.
Wynn Resorts Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts's dividend payout ratio (DPR) is 24.81%.
Wynn Resorts Profile
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Free Report)
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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