Brandywine Global Investment Management LLC Purchases Shares of 60,542 Wynn Resorts, Limited (NASDAQ:WYNN)

Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 60,542 shares of the casino operator's stock, valued at approximately $5,216,000. Brandywine Global Investment Management LLC owned about 0.06% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator's stock valued at $11,094,000 after buying an additional 54,995 shares during the last quarter. Raymond James Financial Inc. bought a new position in Wynn Resorts during the fourth quarter worth $75,872,000. Empirical Asset Management LLC bought a new position in Wynn Resorts during the fourth quarter worth $903,000. Cookson Peirce & Co. Inc. increased its holdings in shares of Wynn Resorts by 79.8% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator's stock valued at $2,915,000 after purchasing an additional 15,017 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Wynn Resorts by 25.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 525,282 shares of the casino operator's stock valued at $45,258,000 after purchasing an additional 107,212 shares during the period. Institutional investors own 88.64% of the company's stock.

Insider Activity at Wynn Resorts

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

Remove Ads

Analysts Set New Price Targets

WYNN has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, February 14th. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Mizuho upped their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Finally, Morgan Stanley lowered their price objective on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.58.

Wynn Resorts Trading Down 10.6 %

NASDAQ WYNN traded down $8.66 on Thursday, hitting $72.88. 5,506,003 shares of the company's stock were exchanged, compared to its average volume of 2,370,323. The stock has a 50-day moving average of $85.55 and a 200-day moving average of $89.22. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share 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. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Wynn Resorts's payout ratio is currently 23.75%.

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.