Federated Hermes Inc. Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Federated Hermes Inc. grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 47.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435 shares of the casino operator’s stock after acquiring an additional 140 shares during the period. Federated Hermes Inc.’s holdings in Wynn Resorts were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WYNN. Nisa Investment Advisors LLC boosted its holdings in shares of Wynn Resorts by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after purchasing an additional 109 shares during the last quarter. Mystic Asset Management Inc. grew its holdings in Wynn Resorts by 1.6% during the 3rd quarter. Mystic Asset Management Inc. now owns 11,131 shares of the casino operator’s stock valued at $1,029,000 after buying an additional 175 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Wynn Resorts by 2.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,934 shares of the casino operator’s stock worth $733,000 after acquiring an additional 198 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Wynn Resorts by 0.9% during the 4th quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock valued at $2,568,000 after acquiring an additional 241 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN opened at $97.23 on Wednesday. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.26 and a beta of 1.91. The company has a 50-day moving average of $100.38 and a 200 day moving average of $95.38. Wynn Resorts, Limited has a 1-year low of $81.65 and a 1-year high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. Wynn Resorts’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts’s payout ratio is currently 16.72%.

Insider Buying and Selling

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the transaction, the chief executive officer now owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. Insiders sold a total of 26,578 shares of company stock valued at $2,850,282 over the last three months. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WYNN shares. Mizuho began coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They set a “buy” rating and a $131.00 price target on the stock. Barclays lifted their price target on Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Morgan Stanley lifted their target price on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, UBS Group lowered their price target on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.43.

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.