Assenagon Asset Management S.A. Purchases Shares of 79,693 Wynn Resorts, Limited (NASDAQ:WYNN)

Assenagon Asset Management S.A. bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 79,693 shares of the casino operator's stock, valued at approximately $7,133,000. Assenagon Asset Management S.A. owned about 0.07% of Wynn Resorts at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in Wynn Resorts in the 4th quarter valued at $27,000. Register Financial Advisors LLC bought a new position in Wynn Resorts during the 1st quarter worth approximately $37,000. GAMMA Investing LLC bought a new position in Wynn Resorts in the fourth quarter valued at approximately $38,000. Federated Hermes Inc. lifted its position in shares of Wynn Resorts by 47.5% in the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator's stock worth $40,000 after purchasing an additional 140 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Wynn Resorts in the fourth quarter worth $40,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Trading Up 0.2 %

Shares of NASDAQ WYNN traded up $0.15 during trading on Friday, reaching $76.29. The company had a trading volume of 1,822,838 shares, compared to its average volume of 1,920,046. The stock has a market capitalization of $8.55 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.69 and a beta of 1.82. The stock has a 50-day moving average price of $83.83 and a two-hundred day moving average price of $94.04. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the company earned $0.91 EPS. Wynn Resorts's quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.43 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, August 19th. Wynn Resorts's dividend payout ratio is presently 13.70%.

Insider Activity

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the transaction, the director now owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on WYNN. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Thursday, May 23rd. Seaport Res Ptn upgraded shares of Wynn Resorts from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 30th. Citigroup upped their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, May 8th. Finally, StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.73.

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.