Nuveen LLC Acquires Shares of 499,772 Wynn Resorts, Limited $WYNN

Key Points

• Nuveen LLC has invested approximately $41.73 million in Wynn Resorts, acquiring 499,772 shares, which represents 0.47% of the company.
• Wynn Resorts reported earnings of $1.09 per share for the last quarter, falling short of the consensus estimate of $1.20, while revenue slightly increased to $1.74 billion.
• The company has declared a quarterly dividend of $0.25, with a payout ratio of 30.03%, and the annualized dividend yield stands at 0.9%.

Nuveen LLC purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 499,772 shares of the casino operator's stock, valued at approximately $41,731,000. Nuveen LLC owned 0.47% of Wynn Resorts as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. bought a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $101,375,000. DAVENPORT & Co LLC purchased a new position in Wynn Resorts in the 1st quarter valued at approximately $49,476,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after acquiring an additional 485,204 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Wynn Resorts by 108.5% in the fourth 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. Finally, Alyeska Investment Group L.P. grew its position in shares of Wynn Resorts by 712.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 481,459 shares of the casino operator's stock valued at $41,483,000 after purchasing an additional 422,174 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 0.8%

WYNN traded down $0.8950 during trading on Wednesday, reaching $111.9350. The stock had a trading volume of 1,106,219 shares, compared to its average volume of 2,453,239. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $113.25. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 5.75 and a beta of 1.41. The stock's 50 day moving average is $103.31 and its two-hundred day moving average is $90.94.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly 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 company had revenue of $1.74 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, equities research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts's dividend payout ratio (DPR) is 30.03%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the sale, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Wednesday, May 7th. Morgan Stanley lifted their price target on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. UBS Group reiterated a "neutral" rating and issued a $101.00 price objective (up from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. Stifel Nicolaus raised their price objective on Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.