Legal & General Group Plc reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,021 shares of the casino operator’s stock after selling 6,267 shares during the quarter. Legal & General Group Plc owned about 0.13% of Wynn Resorts worth $16,608,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in shares of Wynn Resorts by 54.9% during the 4th 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. MQS Management LLC bought a new stake in shares of Wynn Resorts during the 4th quarter valued at approximately $554,000. EverSource Wealth Advisors LLC grew its holdings in shares of Wynn Resorts by 70.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the casino operator’s stock valued at $51,000 after purchasing an additional 176 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Wynn Resorts by 86.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,522 shares of the casino operator’s stock valued at $183,000 after purchasing an additional 704 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Wynn Resorts by 9.3% during the 4th quarter. IFP Advisors Inc now owns 2,176 shares of the casino operator’s stock valued at $262,000 after purchasing an additional 186 shares during the last quarter. 88.64% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group decreased 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. Bank of America decreased their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. Finally, Morgan Stanley decreased their price target on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.
Wynn Resorts Price Performance
WYNN opened at $106.53 on Tuesday. Wynn Resorts, Limited has a fifty-two week low of $82.63 and a fifty-two week high of $134.72. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 0.93 and a beta of 0.98. The company’s 50 day moving average price is $102.19 and its two-hundred day moving average price is $111.43.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last posted its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts predict that Wynn Resorts, Limited will post 4.68 EPS for the current year.
Wynn Resorts Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 dividend yield of 0.9%. Wynn Resorts’s payout ratio is 29.85%.
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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