Fisher Asset Management LLC Lowers Position in Wynn Resorts, Limited $WYNN

Fisher Asset Management LLC trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,932 shares of the casino operator’s stock after selling 5,731 shares during the quarter. Fisher Asset Management LLC’s holdings in Wynn Resorts were worth $6,148,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new position in Wynn Resorts in the second quarter valued at $25,000. Root Financial Partners LLC acquired a new stake in shares of Wynn Resorts during the 3rd quarter valued at about $26,000. Manchester Capital Management LLC increased its stake in shares of Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. MTM Investment Management LLC purchased a new position in Wynn Resorts during the second quarter worth approximately $31,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Wynn Resorts during the third quarter worth approximately $31,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on WYNN shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $148.00 target price on shares of Wynn Resorts in a research note on Monday, December 15th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Barclays increased their price objective on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Stifel Nicolaus cut their target price on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, UBS Group restated a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.87.

Wynn Resorts Stock Up 2.0%

Wynn Resorts stock opened at $105.37 on Friday. The company has a fifty day simple moving average of $113.91 and a 200-day simple moving average of $120.16. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 12.24 and a beta of 1.01. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a $0.25 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts’s dividend payout ratio 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.