American Assets Inc. Buys Shares of 6,700 Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Inc. purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,700 shares of the casino operator's stock, valued at approximately $642,000. Wynn Resorts makes up about 0.2% of American Assets Inc.'s holdings, making the stock its 10th largest position.

A number of other large investors have also modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at $25,000. Blue Trust Inc. raised its stake in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock worth $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts during the 2nd quarter valued at approximately $51,000. Covestor Ltd lifted its position in shares of Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator's stock worth $64,000 after purchasing an additional 506 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator's stock valued at $74,000 after buying an additional 166 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on WYNN shares. Stifel Nicolaus reduced their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th. Susquehanna upped their price target on Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a report on Friday, October 11th. Barclays cut their price target on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.71.

Wynn Resorts Trading Down 1.1 %

Wynn Resorts stock traded down $0.98 during trading hours on Tuesday, reaching $85.50. 3,892,571 shares of the stock were exchanged, compared to its average volume of 2,189,490. The stock has a 50 day moving average of $91.15 and a two-hundred day moving average of $88.36. The company has a market cap of $9.39 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.80. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the business earned $0.99 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts expect that Wynn Resorts, Limited will post 4.9 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.17%. Wynn Resorts's payout ratio is 12.33%.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company's stock.

About Wynn Resorts

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.