Bailard Inc. Purchases New Position in Wynn Resorts, Limited $WYNN

Bailard Inc. acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to its most recent filing with the SEC. The fund acquired 4,684 shares of the casino operator’s stock, valued at approximately $601,000.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in shares of Wynn Resorts in the third quarter valued at $26,000. Steigerwald Gordon & Koch Inc. bought a new position in Wynn Resorts in the 3rd quarter worth about $31,000. Atlantic Edge Private Wealth Management LLC grew its holdings in Wynn Resorts by 400.0% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Wynn Resorts during the second quarter valued at about $25,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company initiated coverage on shares of Wynn Resorts in a report on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 price target on the stock. UBS Group lifted their price objective on Wynn Resorts from $147.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.15.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $113.55 on Friday. The firm has a market capitalization of $11.81 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 14.74 and a beta of 1.08. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72. The firm has a fifty day moving average of $122.17 and a 200 day moving average of $119.78.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results 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). 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 analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts forecast 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. Shareholders of record on Monday, November 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts’s dividend payout ratio is currently 22.37%.

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.