Brandywine Global Investment Management LLC grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,989 shares of the casino operator's stock after acquiring an additional 3,447 shares during the quarter. Brandywine Global Investment Management LLC owned 0.06% of Wynn Resorts worth $5,343,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of WYNN. American Assets Inc. boosted its position in shares of Wynn Resorts by 52.2% in the fourth 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 during the period. Jump Financial LLC boosted its position in shares of Wynn Resorts by 122.4% in the fourth quarter. Jump Financial LLC now owns 5,127 shares of the casino operator's stock valued at $442,000 after acquiring an additional 2,822 shares during the period. Commerce Bank boosted its position in shares of Wynn Resorts by 4.2% in the fourth quarter. Commerce Bank now owns 9,802 shares of the casino operator's stock valued at $845,000 after acquiring an additional 399 shares during the period. First Trust Advisors LP boosted its position in shares of Wynn Resorts by 2.7% in the fourth 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 during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Wynn Resorts by 2.2% in the fourth 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 during the period. 88.64% of the stock is owned by institutional investors.
Insider Buying and Selling at Wynn Resorts
In other news, Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.52% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on WYNN. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group raised their target price on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Barclays raised their target price on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Citigroup reaffirmed a "neutral" rating and issued a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Finally, Morgan Stanley raised their target price on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.64.
Get Our Latest Research Report on WYNN
Wynn Resorts Stock Performance
Shares of NASDAQ WYNN opened at $109.45 on Monday. The stock has a market cap of $11.38 billion, a PE ratio of 32.87, a PEG ratio of 5.82 and a beta of 1.41. The business has a fifty day moving average of $102.32 and a two-hundred day moving average of $90.64. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $112.57.
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 company had revenue of $1.74 billion for the quarter, compared to the consensus estimate 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 was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. Analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.
Wynn Resorts Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts's dividend payout ratio (DPR) is 30.03%.
Wynn Resorts Company Profile
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Free Report)
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.
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