Bamco Inc. NY Acquires 482,570 Shares of Wynn Resorts, Limited $WYNN

Bamco Inc. NY lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 56.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,337,236 shares of the casino operator’s stock after buying an additional 482,570 shares during the period. Bamco Inc. NY owned about 1.29% of Wynn Resorts worth $125,259,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WYNN. Norges Bank bought a new position in Wynn Resorts in the 2nd quarter valued at $106,289,000. Greenwich Wealth Management LLC purchased a new position in Wynn Resorts in the 2nd quarter valued at approximately $46,845,000. Nuveen LLC purchased a new position in shares of Wynn Resorts in the first quarter valued at $41,731,000. DAVENPORT & Co LLC grew its holdings in Wynn Resorts by 53.4% during the 2nd quarter. DAVENPORT & Co LLC now owns 913,086 shares of the casino operator’s stock valued at $85,895,000 after buying an additional 317,850 shares in the last quarter. Finally, Kodai Capital Management LP grew its stake in Wynn Resorts by 174.5% during the first quarter. Kodai Capital Management LP now owns 239,031 shares of the casino operator’s stock valued at $19,959,000 after acquiring an additional 151,956 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $123.66 on Friday. The firm’s 50-day moving average is $123.21 and its 200 day moving average is $113.78. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 8.57 and a beta of 1.10. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business earned $0.90 EPS. Wynn Resorts’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect 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, November 26th. Stockholders of record on Monday, November 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Analysts Set New Price Targets

WYNN has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Wynn Resorts from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. Barclays lifted their target price on shares of Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. The Goldman Sachs Group set a $145.00 price objective on Wynn Resorts in a research report on Monday, December 1st. Jefferies Financial Group upped their price objective on shares of Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price target on Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.15.

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.