Wynn Resorts, Limited $WYNN Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Wynn Resorts stake by 2.9% in the first quarter, purchasing 23,295 additional shares and bringing its holdings to 834,752 shares worth approximately $84.7 million. Institutional investors collectively own 88.64% of the company.
• Wynn Resorts reported quarterly earnings of $1.25 per share, exceeding estimates of $1.18, while revenue rose 9.2% year over year to $1.86 billion. The company also announced a quarterly dividend of $0.25, equivalent to a 1.0% annual yield.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $135.44, versus a recent price of $100.70.

Dimensional Fund Advisors LP raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 834,752 shares of the casino operator's stock after buying an additional 23,295 shares during the period. Dimensional Fund Advisors LP owned approximately 0.80% of Wynn Resorts worth $84,747,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts in the 2nd quarter worth $25,000. Hantz Financial Services Inc. lifted its holdings in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after purchasing an additional 89 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock valued at $31,000 after purchasing an additional 103 shares during the last quarter. SHP Wealth Management acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $32,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $100.70 on Friday. Wynn Resorts, Limited has a fifty-two week low of $92.52 and a fifty-two week high of $134.72. The stock's 50-day moving average is $100.44 and its two-hundred day moving average is $104.34. The stock has a market cap of $10.45 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The firm's quarterly revenue was up 9.2% on a year-over-year basis. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 4.49 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts's dividend payout ratio is presently 29.85%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WYNN shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Jefferies Financial Group cut their price target on shares of Wynn Resorts from $161.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Barclays reduced their price target on shares of Wynn Resorts from $139.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Stifel Nicolaus decreased their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and an average price target of $135.44.

Wynn Resorts Company Profile

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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