Nuveen Asset Management LLC Has $40.30 Million Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Nuveen Asset Management LLC grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 99.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,709 shares of the casino operator's stock after buying 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.

Other large investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts during the 4th quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the 4th quarter worth $36,000. Spire Wealth Management increased its position in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after buying an additional 234 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts during the 4th quarter worth $45,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 88.64% of the company's stock.

Insider Activity

In other news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the business's stock in a transaction dated Monday, March 24th. The shares were purchased 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 of the company's stock, valued at $1,070,118,000. This trade represents a 0.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have bought 416,500 shares of company stock valued at $29,254,547. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WYNN. Wall Street Zen lowered Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Macquarie reissued an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Stifel Nicolaus set a $113.00 target price on Wynn Resorts in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.92.

Wynn Resorts Price Performance

NASDAQ:WYNN traded down $0.44 during trading hours on Friday, hitting $90.47. The company's stock had a trading volume of 1,335,753 shares, compared to its average volume of 2,537,441. The stock has a fifty day simple moving average of $82.09 and a 200-day simple moving average of $85.74. The company has a market capitalization of $9.46 billion, a P/E ratio of 21.49, a PEG ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data 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 net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business earned $1.59 earnings per share. The business's quarterly revenue was down 8.7% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

About Wynn Resorts

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.