Assenagon Asset Management S.A. Invests $10.23 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Assenagon Asset Management S.A. acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,256 shares of the casino operator's stock, valued at approximately $10,228,000. Assenagon Asset Management S.A. owned approximately 0.10% of Wynn Resorts as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its position in shares of Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator's stock worth $28,000 after acquiring an additional 300 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Wynn Resorts in the first quarter worth $45,000. RVW Wealth LLC acquired a new stake in shares of Wynn Resorts in the third quarter worth $47,000. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter worth $58,000. Finally, Bessemer Group Inc. increased its position in shares of Wynn Resorts by 170.3% in the fourth quarter. Bessemer Group Inc. now owns 754 shares of the casino operator's stock worth $62,000 after acquiring an additional 475 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WYNN shares. Bank Of America (Bofa) increased their price objective on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 17th. Barclays upped their target price on shares of Wynn Resorts from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. Wells Fargo & Company upped their target price on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Finally, Macquarie upped their target price on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an "outperform" rating in a research note on Friday, February 9th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.62.

Insider Activity

In other news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company's stock, valued at approximately $54,898.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Ellen F. Whittemore sold 4,180 shares of Wynn Resorts stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $398,186.80. Following the sale, the executive vice president now directly owns 74,144 shares in the company, valued at approximately $7,062,957.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now owns 522 shares in the company, valued at $54,898.74. The disclosure for this sale can be found here. In the last three months, insiders sold 73,828 shares of company stock valued at $7,345,942. Company insiders own 0.52% of the company's stock.

Wynn Resorts Trading Up 0.4 %

NASDAQ WYNN traded up $0.44 during trading hours on Friday, reaching $102.23. 1,018,310 shares of the company traded hands, compared to its average volume of 1,616,800. Wynn Resorts, Limited has a 12 month low of $81.65 and a 12 month high of $117.86. The stock has a market capitalization of $11.46 billion, a PE ratio of 17.10 and a beta of 1.94. The company has a 50 day moving average of $100.69 and a two-hundred day moving average of $93.88.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm posted ($1.23) EPS. The firm's revenue was up 83.1% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.27 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts's dividend payout ratio (DPR) is presently 16.72%.

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.