Bank of New York Mellon Corp Grows Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Bank of New York Mellon Corp raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 568,686 shares of the casino operator's stock after purchasing an additional 23,314 shares during the period. Bank of New York Mellon Corp owned about 0.51% of Wynn Resorts worth $50,897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WYNN. Norges Bank purchased a new stake in shares of Wynn Resorts during the fourth quarter worth $157,305,000. Interval Partners LP lifted its stake in Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator's stock worth $40,985,000 after purchasing an additional 364,432 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Wynn Resorts by 6,720.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator's stock worth $23,050,000 after purchasing an additional 253,761 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Wynn Resorts by 22.2% in the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock valued at $115,082,000 after purchasing an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts from $131.00 to $122.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Argus upgraded 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. Morgan Stanley decreased their target price on shares of Wynn Resorts from $115.00 to $107.00 and set an "equal weight" rating on the stock in a report on Friday, July 12th. Finally, UBS Group upgraded shares of Wynn Resorts to a "hold" rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $116.73.

Wynn Resorts Trading Up 1.8 %

WYNN traded up $1.34 during mid-day trading on Friday, hitting $76.88. 3,939,503 shares of the stock were exchanged, compared to its average volume of 2,658,330. The firm's fifty day moving average is $81.13 and its two-hundred day moving average is $92.26. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market cap of $8.53 billion, a PE ratio of 10.53, a PEG ratio of 1.72 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business 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 business posted $0.91 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.56 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts's dividend payout ratio is currently 13.70%.

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.