Capital World Investors Increases Stock Position in Wynn Resorts, Limited $WYNN

Key Points

• Capital World Investors increased its stake in Wynn Resorts by 0.7% in Q3 to 9,481,183 shares (about 9.12% of the company), valued at roughly $1.22 billion.
• Institutional interest is high—hedge funds and institutions own 88.64% of WYNN, with several large moves including Bamco's 56.5% increase and new stakes from Norges Bank and Palidye Holdings.
• Analysts are generally positive (consensus rating: Moderate Buy, consensus price target $138.87), while recent results showed an EPS miss ($1.17 vs. $1.33) but slightly higher-than-expected revenue and a quarterly dividend of $0.25 (1.0% yield).

Capital World Investors grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,481,183 shares of the casino operator's stock after acquiring an additional 69,793 shares during the quarter. Capital World Investors owned about 9.12% of Wynn Resorts worth $1,216,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WYNN. Bamco Inc. NY grew its position in Wynn Resorts by 56.5% in the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator's stock valued at $125,259,000 after acquiring an additional 482,570 shares during the last quarter. Norges Bank bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $106,289,000. Palidye Holdings Caymans Ltd purchased a new stake in Wynn Resorts during the second quarter worth $104,629,000. Raymond James Financial Inc. lifted its stake in shares of Wynn Resorts by 6.5% during the 2nd quarter. Raymond James Financial Inc. now owns 1,056,019 shares of the casino operator's stock worth $98,917,000 after purchasing an additional 63,997 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Wynn Resorts by 19.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator's stock valued at $114,374,000 after buying an additional 142,892 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WYNN. Jefferies Financial Group lifted their price objective on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, December 8th. Texas Capital upgraded shares of Wynn Resorts to a "strong-buy" rating in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft set a $144.00 price objective on Wynn Resorts in a research report on Friday, February 13th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $139.00 to $136.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.87.

Wynn Resorts Price Performance

WYNN stock opened at $102.73 on Wednesday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72. The business's 50-day moving average is $112.69 and its two-hundred day moving average is $120.08. The firm has a market capitalization of $10.71 billion, a P/E ratio of 34.24, a P/E/G ratio of 12.11 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.16). The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.Wynn Resorts's revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. On average, analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts's dividend payout ratio (DPR) is currently 33.33%.

About Wynn Resorts

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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