M&T Bank Corp Grows Holdings in Wynn Resorts, Limited $WYNN

M&T Bank Corp boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 228.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,081 shares of the casino operator’s stock after purchasing an additional 5,623 shares during the quarter. M&T Bank Corp’s holdings in Wynn Resorts were worth $972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WYNN. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the 2nd quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new stake in Wynn Resorts in the third quarter worth $26,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Wynn Resorts in the third quarter worth $31,000. Cromwell Holdings LLC increased its stake in Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after purchasing an additional 103 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

WYNN opened at $107.11 on Friday. The business’s 50-day moving average is $103.97 and its two-hundred day moving average is $114.60. Wynn Resorts, Limited has a 1 year low of $79.92 and a 1 year high of $134.72. The firm has a market capitalization of $11.14 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 5.78 and a beta of 1.04.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (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 company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the firm earned $2.42 EPS. Wynn Resorts’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 4.93 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, February 23rd. Wynn Resorts’s payout ratio is 33.33%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley reduced their target price on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Wells Fargo & Company decreased their price objective on Wynn Resorts from $147.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Texas Capital upgraded Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Stifel Nicolaus decreased their price objective on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft set a $144.00 price objective on Wynn Resorts in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.93.

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.