Fisher Asset Management LLC Sells 5,731 Shares of Wynn Resorts, Limited $WYNN

Fisher Asset Management LLC lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,932 shares of the casino operator’s stock after selling 5,731 shares during the quarter. Fisher Asset Management LLC’s holdings in Wynn Resorts were worth $6,148,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Westfield Capital Management Co. LP bought a new position in shares of Wynn Resorts in the 3rd quarter worth $73,588,000. Mufg Securities Americas Inc. raised its holdings in Wynn Resorts by 16.8% in the third quarter. Mufg Securities Americas Inc. now owns 2,277 shares of the casino operator’s stock worth $292,000 after purchasing an additional 327 shares in the last quarter. Compound Planning Inc. lifted its position in shares of Wynn Resorts by 6.7% during the third quarter. Compound Planning Inc. now owns 3,216 shares of the casino operator’s stock valued at $412,000 after buying an additional 201 shares during the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of Wynn Resorts by 4.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 6,440 shares of the casino operator’s stock valued at $826,000 after buying an additional 295 shares in the last quarter. Finally, NEOS Investment Management LLC purchased a new position in shares of Wynn Resorts in the 3rd quarter worth approximately $217,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 2.0%

Shares of NASDAQ:WYNN opened at $105.37 on Friday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.72. The company’s 50 day moving average is $113.91 and its 200 day moving average is $120.16. The company has a market cap of $10.99 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 12.24 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. Equities research analysts predict 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 was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WYNN shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. Morgan Stanley decreased their price target on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Wells Fargo & Company dropped their price target on Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and set a $148.00 price objective on shares of Wynn Resorts in a report on Monday, December 15th. Finally, UBS Group reiterated a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.87.

About Wynn Resorts

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.