Gamco Investors INC. ET AL Has $7.51 Million Stake in Wynn Resorts, Limited $WYNN

Key Points

• Gamco Investors INC. ET AL increased its stake in Wynn Resorts by 60.9%, owning 89,880 shares valued at approximately $7.51 million at the end of the last reporting period.
• Wynn Resorts recently reported earnings of $1.09 per share, falling short of estimates, while revenues remained steady at $1.74 billion for the quarter.
• The company declared a quarterly dividend of $0.25 per share, with a dividend yield of 0.8%, set to be paid on August 29th to stockholders of record.

Gamco Investors INC. ET AL lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 60.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,880 shares of the casino operator's stock after acquiring an additional 34,023 shares during the period. Gamco Investors INC. ET AL owned 0.09% of Wynn Resorts worth $7,505,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after purchasing an additional 485,204 shares during the period. Jefferies Financial Group Inc. boosted its holdings in shares of Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock worth $145,059,000 after buying an additional 139,270 shares during the period. Regal Partners Ltd grew its stake in Wynn Resorts by 21.5% in the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after buying an additional 192,873 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Wynn Resorts by 12.7% in the 1st quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock worth $82,834,000 after acquiring an additional 111,428 shares during the period. Finally, Deutsche Bank AG raised its holdings in Wynn Resorts by 108.5% in the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after acquiring an additional 441,558 shares during the period. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $123.20 on Thursday. The firm has a fifty day moving average of $106.83 and a 200-day moving average of $92.30. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 6.33 and a beta of 1.41. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $125.45.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). The business 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%. Wynn Resorts's revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 18th. Wynn Resorts's dividend payout ratio is currently 30.03%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WYNN shares. Mizuho upped their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Citigroup restated a "neutral" rating and set a $114.00 target price (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target on the stock. Barclays upped their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Wednesday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $118.64.

Wynn Resorts Profile

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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