ARGA Investment Management LP Takes $2.17 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

ARGA Investment Management LP purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 22,675 shares of the casino operator's stock, valued at approximately $2,174,000.

A number of other large investors also recently bought and sold shares of WYNN. Fisher Asset Management LLC boosted its holdings in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock worth $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock worth $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Regal Partners Ltd grew its position in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock valued at $86,168,000 after purchasing an additional 174,005 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Wynn Resorts by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator's stock valued at $59,874,000 after purchasing an additional 10,465 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Wynn Resorts in the third quarter worth about $58,486,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts 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 sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WYNN. Barclays lowered their price target on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Finally, UBS Group upgraded Wynn Resorts to a "hold" rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus target price of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN traded up $2.71 during mid-day trading on Friday, reaching $94.38. The stock had a trading volume of 1,402,470 shares, compared to its average volume of 3,196,669. The business has a fifty day moving average of $94.90 and a 200 day moving average of $87.91. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.46 and a beta of 1.80. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 EPS. On average, research analysts forecast that Wynn Resorts, Limited will post 4.78 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date was Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is presently 12.33%.

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.