BI Asset Management Fondsmaeglerselskab A S Has $507,000 Holdings in Wynn Resorts, Limited $WYNN

Key Points

• BI Asset Management Fondsmaeglerselskab A S has significantly reduced its stake in Wynn Resorts by 69.3%, now holding only 6,075 shares worth $507,000.
• Several other institutional investors have increased their positions in Wynn Resorts, with the State of Tennessee Department of Treasury boosting its holdings by 73.0%.
• Wynn Resorts recently announced a $0.25 quarterly dividend, resulting in an annualized yield of 0.9% and a payout ratio of 30.03%.

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 69.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,075 shares of the casino operator's stock after selling 13,723 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Wynn Resorts were worth $507,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WYNN. American Assets Inc. increased its position in Wynn Resorts by 52.2% in the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock valued at $879,000 after acquiring an additional 3,500 shares in the last quarter. First Trust Advisors LP increased its position in Wynn Resorts by 2.7% in the 4th quarter. First Trust Advisors LP now owns 85,083 shares of the casino operator's stock valued at $7,331,000 after acquiring an additional 2,251 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Wynn Resorts by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 613,343 shares of the casino operator's stock valued at $52,845,000 after acquiring an additional 13,100 shares in the last quarter. MetLife Investment Management LLC increased its position in Wynn Resorts by 0.7% in the 4th quarter. MetLife Investment Management LLC now owns 24,988 shares of the casino operator's stock valued at $2,153,000 after acquiring an additional 177 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Wynn Resorts by 155.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,667 shares of the casino operator's stock valued at $833,000 after acquiring an additional 5,884 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WYNN has been the subject of several research reports. Citigroup restated a "neutral" rating and issued a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Barclays raised their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Stifel Nicolaus raised their price objective on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. initiated coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target for the company. Finally, Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Wednesday, May 7th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.93.

Wynn Resorts Trading Up 2.4%

Shares of NASDAQ:WYNN traded up $2.90 during trading on Thursday, hitting $126.10. 1,437,677 shares of the company's stock were exchanged, compared to its average volume of 2,457,179. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $126.05. The firm has a 50-day moving average price of $106.83 and a two-hundred day moving average price of $92.30. The firm has a market cap of $13.11 billion, a P/E ratio of 37.85, a PEG ratio of 6.33 and a beta of 1.41.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, research analysts predict 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 will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts's payout ratio is currently 30.03%.

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.