Renaissance Technologies LLC Increases Holdings in Wynn Resorts, Limited $WYNN

Renaissance Technologies LLC increased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,239,956 shares of the casino operator’s stock after buying an additional 184,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Wynn Resorts were worth $125,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Securities EMEA plc bought a new position in Wynn Resorts during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its stake in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares during the last quarter. SHP Wealth Management bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $96.92 on Friday. Wynn Resorts, Limited has a 52-week low of $92.52 and a 52-week high of $134.72. The company’s 50 day moving average price is $100.21 and its 200-day moving average price is $104.96. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 0.95 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business posted $1.07 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 4.52 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 29.85%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WYNN. Truist Financial started coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price on the stock. The Goldman Sachs Group set a $120.00 price target on shares of Wynn Resorts in a research report on Wednesday, July 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $128.00 price objective on shares of Wynn Resorts in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Finally, Barclays decreased their price objective on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $135.94.

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.