Vanguard Group Inc. Decreases Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Vanguard Group Inc. reduced its stake in Wynn Resorts by 0.6%, selling 55,262 shares to hold 9,002,788 shares (about 8.66%) valued at roughly $1.083 billion per its latest 13F filing.
• Wynn reported Q4 EPS of $1.17, missing the $1.33 consensus, while revenue slightly beat at $1.87 billion (up 1.5% YoY); the company showed a negative ROE of 39.05% and a net margin of 4.59%.
• The stock trades near $105.98 with a market cap of $11.03 billion, pays a $0.25 quarterly dividend (annualized $1.00, yield 0.9%), and holds a consensus "Moderate Buy" rating with an average price target of $137.93.

Vanguard Group Inc. lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,002,788 shares of the casino operator's stock after selling 55,262 shares during the period. Vanguard Group Inc. owned about 8.66% of Wynn Resorts worth $1,083,305,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WYNN. Palidye Holdings Caymans Ltd purchased a new stake in Wynn Resorts during the second quarter worth about $104,629,000. Zurich Insurance Group Ltd FI purchased a new stake in Wynn Resorts during the third quarter worth about $110,213,000. Westfield Capital Management Co. LP purchased a new stake in Wynn Resorts during the third quarter worth about $73,588,000. Rakuten Investment Management Inc. purchased a new stake in Wynn Resorts during the third quarter worth about $51,163,000. Finally, Barclays PLC increased its holdings in Wynn Resorts by 121.3% during the third quarter. Barclays PLC now owns 506,945 shares of the casino operator's stock worth $65,026,000 after buying an additional 277,917 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Down 1.1%

WYNN opened at $105.98 on Friday. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 5.94 and a beta of 1.04. The firm has a 50-day moving average price of $103.97 and a 200-day moving average price of $114.60. Wynn Resorts, Limited has a twelve month low of $80.86 and a twelve month high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations 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 for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 EPS. On average, sell-side analysts expect that Wynn Resorts, Limited will post 4.93 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts's dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

A number of research firms recently issued reports on WYNN. Wells Fargo & Company decreased their price objective on shares of Wynn Resorts from $147.00 to $144.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft set a $144.00 price objective on shares of Wynn Resorts in a report on Friday, February 13th. Mizuho raised their price objective on shares of Wynn Resorts from $131.00 to $134.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Morgan Stanley reduced their target price on shares of Wynn Resorts from $139.00 to $136.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group reduced their target price on shares of Wynn Resorts from $161.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.93.

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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