ARGA Investment Management LP Sells 9,289 Shares of Wynn Resorts, Limited $WYNN

ARGA Investment Management LP decreased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 36.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,225 shares of the casino operator’s stock after selling 9,289 shares during the period. ARGA Investment Management LP’s holdings in Wynn Resorts were worth $2,081,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock valued at $665,000 after purchasing an additional 754 shares during the period. Woodline Partners LP grew its holdings in shares of Wynn Resorts by 36.2% during the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after buying an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Wynn Resorts by 376.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,077 shares of the casino operator’s stock valued at $101,000 after acquiring an additional 851 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Wynn Resorts by 19.4% during the 2nd quarter. GAMMA Investing LLC now owns 3,811 shares of the casino operator’s stock worth $357,000 after acquiring an additional 620 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

WYNN has been the topic of a number of recent research reports. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. Jefferies Financial Group boosted their price target on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Morgan Stanley raised their price objective on Wynn Resorts from $132.00 to $139.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, Mizuho lifted their target price on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.15.

Wynn Resorts Price Performance

WYNN stock opened at $113.55 on Friday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 14.74 and a beta of 1.08. The company has a 50 day simple moving average of $122.17 and a 200 day simple moving average of $119.78.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is currently 22.37%.

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.