Wynn Resorts, Limited $WYNN Position Lowered by Bamco Inc. NY

Bamco Inc. NY decreased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,219,590 shares of the casino operator’s stock after selling 118,268 shares during the period. Bamco Inc. NY owned about 1.17% of Wynn Resorts worth $146,753,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the second quarter worth about $25,000. Hantz Financial Services Inc. lifted its position 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 worth $30,000 after purchasing an additional 89 shares during the last quarter. Cromwell Holdings LLC lifted its position 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 worth $31,000 after purchasing an additional 103 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the fourth quarter worth about $34,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Barclays cut their target price 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 target price on shares of Wynn Resorts in a report on Friday, May 8th. Citigroup cut their target price on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, UBS Group reissued a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Trading Down 1.3%

Shares of NASDAQ:WYNN opened at $102.31 on Thursday. The firm’s 50 day moving average is $103.24 and its two-hundred day moving average is $109.95. Wynn Resorts, Limited has a 52 week low of $86.53 and a 52 week high of $134.72. The firm has a market capitalization of $10.62 billion, a P/E ratio of 30.54, a PEG ratio of 0.97 and a beta of 0.98.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $1.07 earnings per share. Wynn Resorts’s revenue was up 9.2% compared to the same quarter last year. Analysts predict that Wynn Resorts, Limited will post 4.61 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 29.85%.

Wynn Resorts 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.