Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by American Assets Investment Management LLC

Key Points

• American Assets Investment Management LLC significantly increased its stake in Wynn Resorts by 460.9%, now owning 167,829 shares worth approximately $14 million as of the latest SEC filing.
• Wynn Resorts recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.91%, with a dividend payout ratio of 27.78% as of the last reporting period.
• Research analysts have mixed ratings on Wynn Resorts, with twelve analysts giving it a buy rating and an average price target of $114.71, indicating positive future expectations despite recent earnings misses.

American Assets Investment Management LLC grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 460.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 167,829 shares of the casino operator's stock after buying an additional 137,905 shares during the period. Wynn Resorts accounts for approximately 5.9% of American Assets Investment Management LLC's holdings, making the stock its 6th biggest holding. American Assets Investment Management LLC owned approximately 0.16% of Wynn Resorts worth $14,014,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury boosted its stake in Wynn Resorts by 73.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock worth $2,050,000 after purchasing an additional 10,041 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in Wynn Resorts by 190.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after buying an additional 12,993 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Wynn Resorts during the fourth quarter worth approximately $2,296,000. Brandywine Global Investment Management LLC acquired a new position in Wynn Resorts in the fourth quarter valued at approximately $5,216,000. Finally, Alliancebernstein L.P. raised its holdings in Wynn Resorts by 12.4% in the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after purchasing an additional 13,553 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WYNN shares. JPMorgan Chase & Co. started coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Barclays lifted their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Bank of America raised 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. Finally, The Goldman Sachs Group started coverage on shares of Wynn Resorts in a report on Monday, July 7th. They set a "buy" rating and a $122.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $114.71.

Wynn Resorts Stock Up 0.1%

NASDAQ:WYNN opened at $109.53 on Thursday. The stock's 50 day moving average price is $97.48 and its 200 day moving average price is $88.53. The company has a market capitalization of $11.45 billion, a PE ratio of 30.43, a P/E/G ratio of 3.02 and a beta of 1.37. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $112.36.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 earnings per share. As a group, sell-side analysts anticipate 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 was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.

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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