Wynn Resorts, Limited $WYNN Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Wynn Resorts by 26.3%, owning 7,097 shares worth approximately $593,000 after selling 2,529 shares in the first quarter.
• Institutional investors currently hold 88.64% of Wynn Resorts' stock, with several firms increasing their positions substantially, including Deutsche Bank AG, which raised its stake by 108.5%.
• Wynn Resorts announced a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 0.8%.

Rafferty Asset Management LLC cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 26.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,097 shares of the casino operator's stock after selling 2,529 shares during the period. Rafferty Asset Management LLC's holdings in Wynn Resorts were worth $593,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC increased 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 valued at $269,308,000 after acquiring an additional 485,204 shares during the last quarter. Jefferies Financial Group Inc. increased its position in shares of Wynn Resorts by 9.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after acquiring an additional 139,270 shares during the last quarter. Regal Partners Ltd increased its position in shares of Wynn Resorts by 21.5% during the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after acquiring an additional 192,873 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock valued at $82,834,000 after acquiring an additional 111,428 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Wynn Resorts by 108.5% during the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock valued at $73,118,000 after acquiring an additional 441,558 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Macquarie lifted their price objective on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Mizuho lifted their price objective on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Citigroup reiterated a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Finally, Barclays lifted their price target 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. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $121.93.

Wynn Resorts Trading Down 1.0%

Shares of NASDAQ:WYNN opened at $125.47 on Wednesday. The company has a market capitalization of $13.05 billion, a PE ratio of 37.68, a P/E/G ratio of 6.76 and a beta of 1.37. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $128.53. The firm has a 50 day simple moving average of $109.82 and a 200-day simple moving average of $93.65.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, equities research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's payout ratio is currently 30.03%.

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.

Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.