Bailard Inc. Takes $601,000 Position in Wynn Resorts, Limited $WYNN

Bailard Inc. bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 4,684 shares of the casino operator’s stock, valued at approximately $601,000.

Several other hedge funds have also added to or reduced their stakes in WYNN. Norges Bank purchased a new stake in Wynn Resorts during the 2nd quarter valued at $106,289,000. Pacific Heights Asset Management LLC boosted its holdings in shares of Wynn Resorts by 30.4% during the third quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator’s stock worth $19,240,000 after purchasing an additional 35,000 shares during the period. Rakuten Investment Management Inc. bought a new stake in shares of Wynn Resorts in the third quarter worth about $51,163,000. Brandywine Global Investment Management LLC increased its holdings in Wynn Resorts by 6.3% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 68,038 shares of the casino operator’s stock valued at $6,373,000 after purchasing an additional 4,049 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in Wynn Resorts by 386.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 303,986 shares of the casino operator’s stock valued at $38,992,000 after purchasing an additional 241,495 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WYNN has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, December 8th. The Goldman Sachs Group restated a “buy” rating and issued a $148.00 price objective on shares of Wynn Resorts in a report on Monday, December 15th. Barclays raised their target price on shares of Wynn Resorts from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Wells Fargo & Company started coverage on shares of Wynn Resorts in a research report on Tuesday, November 18th. They set an “overweight” rating and a $151.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.15.

Wynn Resorts Trading Down 1.3%

Shares of WYNN stock opened at $113.55 on Friday. The company’s fifty day moving average price is $122.17 and its 200-day moving average price is $119.78. The stock has a market cap of $11.81 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 14.74 and a beta of 1.08. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s payout ratio is currently 22.37%.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.