Capital World Investors Grows Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Capital World Investors increased its stake in Wynn Resorts by 0.6% in the fourth quarter, ending with 9.54 million shares worth about $1.15 billion, or roughly 9.18% of the company.
• Several other institutional investors also added to their Wynn positions, and hedge funds and institutions now own 88.64% of the stock.
• Analysts remain broadly positive despite recent price-target cuts: Wynn has a Moderate Buy consensus rating with an average price target of $140, while the company also beat earnings expectations in its latest quarter and pays a quarterly dividend.

Capital World Investors raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,542,392 shares of the casino operator's stock after purchasing an additional 61,209 shares during the period. Capital World Investors owned approximately 9.18% of Wynn Resorts worth $1,148,236,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Horizon Investments LLC increased its holdings in shares of Wynn Resorts by 6.7% in the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator's stock worth $180,000 after buying an additional 94 shares during the period. Parallel Advisors LLC increased its holdings in shares of Wynn Resorts by 21.6% in the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator's stock worth $72,000 after buying an additional 100 shares during the period. Cromwell Holdings LLC increased its holdings in shares of Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock worth $31,000 after buying an additional 103 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Wynn Resorts by 23.5% in the fourth quarter. Larson Financial Group LLC now owns 557 shares of the casino operator's stock worth $67,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on WYNN shares. Barclays decreased their price objective on Wynn Resorts from $143.00 to $139.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Jefferies Financial Group decreased their price objective on Wynn Resorts from $161.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 6th. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $140.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Citigroup decreased their price objective on Wynn Resorts from $145.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Finally, UBS Group reiterated a "buy" rating on shares of Wynn Resorts in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $140.00.

Wynn Resorts Stock Performance

WYNN stock opened at $104.48 on Monday. The firm has a 50 day moving average price of $102.43 and a 200-day moving average price of $110.94. Wynn Resorts, Limited has a 52-week low of $82.64 and a 52-week high of $134.72. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 0.97 and a beta of 0.98.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business earned $1.07 earnings per share. The business's revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts's payout ratio is currently 29.85%.

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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