Empirical Finance LLC Increases Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Empirical Finance LLC boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 8.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,205 shares of the casino operator’s stock after purchasing an additional 253 shares during the period. Empirical Finance LLC’s holdings in Wynn Resorts were worth $268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Assets Inc. grew its holdings in Wynn Resorts by 52.2% during the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator’s stock worth $879,000 after acquiring an additional 3,500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Wynn Resorts by 17.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151,270 shares of the casino operator’s stock valued at $12,604,000 after purchasing an additional 22,425 shares in the last quarter. Norges Bank bought a new position in shares of Wynn Resorts during the fourth quarter worth about $117,352,000. New Age Alpha Advisors LLC acquired a new position in Wynn Resorts in the fourth quarter worth about $238,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Wynn Resorts by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator’s stock valued at $2,681,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the transaction, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

WYNN stock opened at $109.38 on Wednesday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $112.36. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 3.08 and a beta of 1.37. The stock’s fifty day moving average is $97.12 and its two-hundred day moving average is $88.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The firm’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the business earned $1.59 EPS. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. Wynn Resorts’s payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup restated a “neutral” rating and set a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. JPMorgan Chase & Co. began coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an “overweight” rating and a $109.00 price target on the stock. Argus cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of Wynn Resorts in a report on Monday, July 7th. They issued a “buy” rating and a $122.00 price objective for the company. Finally, UBS Group reissued a “neutral” rating and set a $101.00 target price (up from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $114.71.

Wynn Resorts Profile

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.