Rhumbline Advisers Sells 15,299 Shares of Wynn Resorts, Limited $WYNN

Rhumbline Advisers cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,782 shares of the casino operator’s stock after selling 15,299 shares during the quarter. Rhumbline Advisers owned 0.14% of Wynn Resorts worth $18,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in WYNN. Norges Bank bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $106,289,000. Pacific Heights Asset Management LLC increased its stake in Wynn Resorts by 30.4% in the third quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator’s stock valued at $19,240,000 after acquiring an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Wynn Resorts by 19.1% during the third quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator’s stock valued at $114,374,000 after purchasing an additional 142,892 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in Wynn Resorts during the third quarter worth about $51,163,000. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Wynn Resorts in the 3rd quarter worth about $1,347,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WYNN. Jefferies Financial Group raised their price objective on Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. JPMorgan Chase & Co. increased their price target on shares of Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. UBS Group upped their price objective on shares of Wynn Resorts from $147.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Macquarie Infrastructure reiterated an “outperform” rating and issued a $143.00 target price on shares of Wynn Resorts in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $139.20.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $114.40 on Wednesday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72. The company’s 50 day moving average price is $117.92 and its 200-day moving average price is $120.34. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 9.79 and a beta of 1.06.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 38.04%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 earnings per share. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, February 23rd. Wynn Resorts’s dividend payout ratio is currently 33.33%.

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.