Legal & General Group Plc Invests $13.28 Million in Wynn Resorts, Limited $WYNN

Legal & General Group Plc acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 136,735 shares of the casino operator’s stock, valued at approximately $13,276,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $25,000. SHP Wealth Management acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $32,000. International Assets Investment Management LLC purchased a new stake in Wynn Resorts during the fourth quarter worth $34,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $95.26 on Monday. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 0.83 and a beta of 1.01. Wynn Resorts, Limited has a 1-year low of $92.52 and a 1-year high of $134.72. The firm has a 50 day simple moving average of $99.00 and a 200-day simple moving average of $102.33.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. Equities analysts expect that Wynn Resorts, Limited will post 4.65 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio (DPR) is 24.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Argus raised their price target on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays boosted their price objective on Wynn Resorts from $134.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. Finally, Mizuho decreased their price objective on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $134.19.

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.