Bridgewater Associates LP Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Bridgewater Associates LP raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 11.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,706 shares of the casino operator's stock after purchasing an additional 12,111 shares during the quarter. Bridgewater Associates LP owned 0.11% of Wynn Resorts worth $11,477,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC lifted its stake in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after buying an additional 1,644,965 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock valued at $120,386,000 after acquiring an additional 303,033 shares in the last quarter. Regal Partners Ltd boosted its stake in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock worth $86,168,000 after acquiring an additional 174,005 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Wynn Resorts during the third quarter worth about $58,486,000. Finally, Bank of New York Mellon Corp grew its position in shares of Wynn Resorts by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 568,686 shares of the casino operator's stock worth $50,897,000 after purchasing an additional 23,314 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded up $2.71 during trading on Friday, hitting $94.38. The company had a trading volume of 1,402,470 shares, compared to its average volume of 2,215,861. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 3.36 and a beta of 1.80. The company has a fifty day simple moving average of $94.60 and a two-hundred day simple moving average of $88.01. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

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

Wynn Resorts Dividend Announcement

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

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company's stock, valued at approximately $447,894.97. The trade was a 31.78 % 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. 0.52% of the stock is currently owned by corporate insiders.

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.