Wynn Resorts, Limited $WYNN Shares Sold by Bamco Inc. NY

Bamco Inc. NY lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 8.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,219,590 shares of the casino operator’s stock after selling 118,268 shares during the period. Bamco Inc. NY’s holdings in Wynn Resorts were worth $146,753,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC increased its stake in shares of Wynn Resorts by 433,217.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock valued at $8,864,000 after acquiring an additional 73,647 shares during the period. Westend Capital Management LLC acquired a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $12,084,000. SG Americas Securities LLC increased its stake in shares of Wynn Resorts by 224.1% during the fourth quarter. SG Americas Securities LLC now owns 82,859 shares of the casino operator’s stock valued at $9,970,000 after acquiring an additional 57,293 shares during the period. Pacer Advisors Inc. grew its position in Wynn Resorts by 97.5% in the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock worth $2,697,000 after buying an additional 11,067 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Wynn Resorts by 225.5% in the fourth quarter. Nordea Investment Management AB now owns 353,004 shares of the casino operator’s stock worth $42,629,000 after buying an additional 244,553 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. 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 research report on Thursday, May 14th. 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 research report on Monday, April 6th. Wells Fargo & Company set a $142.00 price target on shares of Wynn Resorts and gave the stock an “overweight” rating in a research report on Sunday, May 10th. 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 research report on Friday, May 8th. Finally, 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 research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Wynn Resorts Trading Down 1.3%

NASDAQ:WYNN opened at $102.31 on Thursday. The business’s fifty day moving average price is $103.24 and its 200 day moving average price is $109.95. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 0.97 and a beta of 0.98. Wynn Resorts, Limited has a 1-year low of $86.53 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. Equities analysts forecast that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s payout ratio is currently 29.85%.

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.