Wynn Resorts, Limited $WYNN Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 82.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 19,757 shares of the casino operator’s stock after selling 94,869 shares during the period. Assenagon Asset Management S.A.’s holdings in Wynn Resorts were worth $2,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Egerton Capital UK LLP purchased a new position in Wynn Resorts during the 4th quarter valued at about $249,053,000. Palidye Holdings Caymans Ltd purchased a new position in shares of Wynn Resorts in the second quarter valued at approximately $104,629,000. Norges Bank acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $122,696,000. Zurich Insurance Group Ltd FI purchased a new stake in Wynn Resorts during the 3rd quarter worth approximately $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in Wynn Resorts by 9.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock worth $442,890,000 after buying an additional 320,502 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on WYNN shares. Barclays decreased their price target on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Jefferies Financial Group dropped their price objective on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Morgan Stanley decreased their price objective on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $96.11 on Thursday. The firm’s fifty day moving average price is $102.45 and its 200 day moving average price is $108.11. Wynn Resorts, Limited has a 12 month low of $93.44 and a 12 month high of $134.72. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 0.90 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company earned $1.07 earnings per share. Wynn Resorts’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio is 29.85%.

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.