Wellington Management Group LLP increased its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 90.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 115,707 shares of the casino operator's stock after purchasing an additional 54,995 shares during the period. Wellington Management Group LLP owned 0.11% of Wynn Resorts worth $11,094,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Wynn Resorts by 26.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,632 shares of the casino operator's stock valued at $683,000 after acquiring an additional 1,581 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $705,000. Assenagon Asset Management S.A. acquired a new position in shares of Wynn Resorts in the second quarter valued at approximately $7,133,000. Raymond James & Associates raised its stake in shares of Wynn Resorts by 3.5% during the second quarter. Raymond James & Associates now owns 105,845 shares of the casino operator's stock worth $9,473,000 after purchasing an additional 3,579 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Wynn Resorts by 270.7% during the second quarter. First Horizon Advisors Inc. now owns 1,820 shares of the casino operator's stock worth $163,000 after purchasing an additional 1,329 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.
Wynn Resorts Stock Performance
NASDAQ WYNN traded down $4.85 during mid-day trading on Monday, reaching $89.68. 3,097,683 shares of the stock were exchanged, compared to its average volume of 2,206,977. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The stock has a market capitalization of $9.85 billion, a PE ratio of 11.06, a PEG ratio of 3.46 and a beta of 1.78. The business's fifty day simple moving average is $94.65 and its 200 day simple moving average is $87.79.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the firm earned $0.99 EPS. Wynn Resorts's revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts anticipate that Wynn Resorts, Limited will post 4.79 EPS for the current year.
Wynn Resorts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, November 15th. Wynn Resorts's dividend payout ratio is currently 12.33%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a report on Tuesday, September 17th. Susquehanna increased their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a research note on Friday, October 11th. Finally, Macquarie reiterated an "outperform" rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Four research 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 currently has a consensus rating of "Moderate Buy" and an average price target of $115.71.
Read Our Latest Stock Analysis on Wynn Resorts
Wynn Resorts Company Profile
(
Free Report)
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.
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