MML Investors Services LLC Has $1.63 Million Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

MML Investors Services LLC boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 135.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the casino operator's stock after buying an additional 9,788 shares during the quarter. MML Investors Services LLC's holdings in Wynn Resorts were worth $1,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the last quarter. Holocene Advisors LP lifted its stake in Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock valued at $72,672,000 after buying an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Wynn Resorts in the third quarter worth about $58,486,000. Renaissance Technologies LLC boosted its holdings 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 worth $120,386,000 after buying an additional 303,033 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of Wynn Resorts in the third quarter worth approximately $19,753,000. 88.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WYNN. UBS Group raised shares of Wynn Resorts to a "hold" rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. 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. Stifel Nicolaus reduced their price objective on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a research note on Friday, September 13th. Finally, Macquarie reaffirmed an "outperform" rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $115.71.

Wynn Resorts Price Performance

Shares of WYNN stock traded up $0.18 on Wednesday, hitting $92.14. The company's stock had a trading volume of 305,496 shares, compared to its average volume of 2,198,477. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm's fifty day moving average price is $94.44 and its 200-day moving average price is $87.77.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company posted $0.99 EPS. The business's revenue was up 1.3% compared to the same quarter last year. Analysts predict that Wynn Resorts, Limited will post 4.79 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, November 15th. Wynn Resorts's payout ratio is 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.