Barrow Hanley Mewhinney & Strauss LLC Grows Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Barrow Hanley Mewhinney & Strauss LLC raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,125,668 shares of the casino operator's stock after buying an additional 485,204 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 2.85% of Wynn Resorts worth $269,308,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in Wynn Resorts during the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts during the 3rd quarter worth $31,000. SBI Securities Co. Ltd. purchased a new stake in Wynn Resorts during the 4th quarter worth about $36,000. Spire Wealth Management raised its position in Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after purchasing an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Down 9.2 %

Shares of WYNN traded down $7.51 on Thursday, reaching $74.03. The stock had a trading volume of 2,735,750 shares, compared to its average volume of 2,355,476. The firm has a 50-day moving average of $85.79 and a 200 day moving average of $89.34. The firm has a market capitalization of $7.86 billion, a PE ratio of 17.58, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Remove Ads

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Monday, February 24th. Wynn Resorts's payout ratio is 23.75%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the business's stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. This trade represents a 0.09 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 38,700 shares of company stock worth $3,427,943. 0.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Macquarie reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Barclays increased their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.58.

Wynn Resorts Profile

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.