Wynn Resorts, Limited $WYNN Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.1% during the first quarter, Holdings Channel reports. The fund owned 62,300 shares of the casino operator’s stock after acquiring an additional 1,900 shares during the quarter. Gabelli Funds LLC’s holdings in Wynn Resorts were worth $5,202,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after purchasing an additional 485,204 shares during the period. Jefferies Financial Group Inc. raised its stake in Wynn Resorts by 9.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock worth $145,059,000 after purchasing an additional 139,270 shares during the period. Regal Partners Ltd raised its stake in Wynn Resorts by 21.5% during the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock worth $91,147,000 after purchasing an additional 192,873 shares during the period. Raymond James Financial Inc. raised its stake in Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator’s stock worth $82,834,000 after purchasing an additional 111,428 shares during the period. Finally, Deutsche Bank AG raised its stake in Wynn Resorts by 108.5% during the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator’s stock worth $73,118,000 after purchasing an additional 441,558 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WYNN shares. Morgan Stanley increased their price target on shares of Wynn Resorts from $111.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group began coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They issued a “buy” rating and a $122.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They issued an “overweight” rating and a $109.00 target price on the stock. Finally, Citigroup reissued a “neutral” rating and issued a $114.00 target price (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.93.

Wynn Resorts Trading Up 2.9%

WYNN opened at $126.74 on Friday. The company has a fifty day simple moving average of $107.63 and a 200 day simple moving average of $92.63. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 6.55 and a beta of 1.41. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $126.88.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 30.03%.

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.