Rhumbline Advisers Trims Position in Wynn Resorts, Limited $WYNN

Rhumbline Advisers lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 9.4% in the third quarter, Holdings Channel.com reports. The fund owned 146,782 shares of the casino operator’s stock after selling 15,299 shares during the period. Rhumbline Advisers’ holdings in Wynn Resorts were worth $18,828,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Wynn Resorts by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock worth $1,167,000 after buying an additional 127 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in Wynn Resorts in the second quarter worth about $2,390,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WYNN shares. Jefferies Financial Group increased their target price on Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Macquarie Infrastructure reiterated an “outperform” rating and issued a $143.00 price objective on shares of Wynn Resorts in a report on Monday, December 8th. Texas Capital raised Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Susquehanna reaffirmed a “positive” rating and issued a $133.00 target price on shares of Wynn Resorts in a research report on Thursday, February 12th. Finally, Morgan Stanley lifted their price target on shares of Wynn Resorts from $132.00 to $139.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $139.20.

Wynn Resorts Price Performance

WYNN opened at $114.40 on Wednesday. The firm has a market cap of $11.89 billion, a PE ratio of 38.13, a P/E/G ratio of 9.79 and a beta of 1.06. The stock has a 50-day moving average price of $117.92 and a 200-day moving average price of $120.34. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 38.04%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. As a group, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts’s dividend payout ratio (DPR) is 33.33%.

Wynn Resorts Company 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.