Nuveen Asset Management LLC Raises Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Nuveen Asset Management LLC raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 99.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 467,709 shares of the casino operator's stock after purchasing an additional 233,580 shares during the period. Nuveen Asset Management LLC owned approximately 0.43% of Wynn Resorts worth $40,298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after buying an additional 485,204 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Wynn Resorts by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after purchasing an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in Wynn Resorts by 9.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after purchasing an additional 139,270 shares during the period. Renaissance Technologies LLC lifted its position in Wynn Resorts by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after purchasing an additional 228,000 shares during the period. Finally, Norges Bank purchased a new stake in Wynn Resorts in the fourth quarter worth approximately $117,352,000. Institutional investors own 88.64% of the company's stock.

Insider Buying and Selling at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $84.93 per share, with a total value of $974,571.75. Following the completion of the purchase, the insider now owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. This represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have purchased 416,500 shares of company stock worth $29,254,547. Insiders own 0.52% of the company's stock.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN traded down $0.44 during mid-day trading on Monday, reaching $90.47. The company's stock had a trading volume of 1,335,753 shares, compared to its average volume of 2,543,467. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The stock has a fifty day moving average of $82.19 and a two-hundred day moving average of $85.76. The firm has a market capitalization of $9.46 billion, a PE ratio of 21.49, a P/E/G ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $1.59 earnings per share. The company's revenue for the quarter was down 8.7% compared to the same quarter last year. Analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 1.11%. Wynn Resorts's payout ratio is 27.78%.

Analysts Set New Price Targets

WYNN has been the topic of several research analyst reports. Barclays lowered their price target on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley dropped their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Argus lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.18.

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.