Barrow Hanley Mewhinney & Strauss LLC Grows Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,125,668 shares of the casino operator’s stock after buying an additional 485,204 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Wynn Resorts were worth $269,308,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WYNN. State of Tennessee Department of Treasury grew its position in Wynn Resorts by 73.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator’s stock valued at $2,050,000 after buying an additional 10,041 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Wynn Resorts by 190.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator’s stock valued at $1,706,000 after acquiring an additional 12,993 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at about $2,296,000. Brandywine Global Investment Management LLC purchased a new position in shares of Wynn Resorts in the 4th quarter valued at about $5,216,000. Finally, Alliancebernstein L.P. raised its holdings in Wynn Resorts by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator’s stock worth $10,577,000 after purchasing an additional 13,553 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $90.91 on Friday. The business has a fifty day moving average price of $82.09 and a 200 day moving average price of $85.74. The company has a market cap of $9.51 billion, a P/E ratio of 21.59, a P/E/G ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Wynn Resorts’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 EPS. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 1.10%. Wynn Resorts’s dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Mizuho cut their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Barclays decreased their price objective on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.92.

Insider Buying and Selling at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta acquired 300,000 shares of Wynn Resorts stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $70.37 per share, for a total transaction of $21,111,000.00. Following the completion of the transaction, the insider now owns 12,900,000 shares in the company, valued at $907,773,000. This represents a 2.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders acquired 416,500 shares of company stock worth $29,254,547. Insiders own 0.52% of the company’s stock.

About Wynn Resorts

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.