Vanguard Group Inc. Sells 55,262 Shares of Wynn Resorts, Limited $WYNN

Vanguard Group Inc. reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,002,788 shares of the casino operator’s stock after selling 55,262 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Wynn Resorts worth $1,083,305,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WYNN. Deutsche Bank Aktiengesellschaft set a $144.00 price objective on shares of Wynn Resorts in a research report on Friday, February 13th. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Mizuho raised their price objective on shares of Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Stifel Nicolaus cut their price objective on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Morgan Stanley dropped their target price on shares of Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $137.93.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $105.98 on Friday. Wynn Resorts, Limited has a 1 year low of $80.86 and a 1 year high of $134.72. The firm has a market cap of $11.03 billion, a PE ratio of 35.33, a PEG ratio of 5.94 and a beta of 1.04. The company has a 50 day simple moving average of $103.97 and a two-hundred day simple moving average of $114.60.

Wynn Resorts (NASDAQ:WYNN) last announced 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 for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Wynn Resorts, Limited will post 4.93 earnings per share for the current year.

Wynn Resorts Dividend Announcement

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