Wynn Resorts, Limited (NASDAQ:WYNN) Stake Increased by Gabelli Funds LLC

Gabelli Funds LLC raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,600 shares of the casino operator’s stock after buying an additional 6,300 shares during the period. Gabelli Funds LLC owned about 0.07% of Wynn Resorts worth $9,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Wynn Resorts by 12.6% during the second quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock valued at $957,788,000 after purchasing an additional 641,845 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Wynn Resorts by 15.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,010,495 shares of the casino operator’s stock worth $169,096,000 after acquiring an additional 136,113 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Wynn Resorts by 7.8% in the 2nd quarter. Northern Trust Corp now owns 1,005,497 shares of the casino operator’s stock worth $168,260,000 after acquiring an additional 73,166 shares during the last quarter. Putnam Investments LLC increased its stake in shares of Wynn Resorts by 34.9% in the second quarter. Putnam Investments LLC now owns 761,801 shares of the casino operator’s stock worth $127,480,000 after buying an additional 197,228 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Wynn Resorts by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 735,421 shares of the casino operator’s stock worth $123,065,000 after buying an additional 58,243 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

WYNN traded up $10.39 on Monday, hitting $119.79. The company had a trading volume of 5,958,304 shares, compared to its average volume of 3,172,318. Wynn Resorts, Limited has a 12-month low of $92.50 and a 12-month high of $203.63. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.14 and a quick ratio of 1.11. The firm has a market capitalization of $11.90 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 0.82 and a beta of 1.58.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, November 7th. The casino operator reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.01). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a return on equity of 56.04% and a net margin of 8.92%. Wynn Resorts’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 6.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Wednesday, November 21st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Tuesday, November 20th. Wynn Resorts’s dividend payout ratio is presently 54.95%.

In other Wynn Resorts news, Director Philip G. Satre purchased 9,800 shares of the stock in a transaction on Tuesday, November 13th. The stock was acquired at an average price of $103.01 per share, with a total value of $1,009,498.00. Following the completion of the acquisition, the director now owns 100 shares in the company, valued at $10,301. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by company insiders.

Several research analysts recently commented on the stock. Argus downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a research note on Tuesday, August 7th. Credit Suisse Group assumed coverage on shares of Wynn Resorts in a research report on Tuesday, August 14th. They set a “neutral” rating and a $155.00 price objective on the stock. Jefferies Financial Group downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a research report on Tuesday, August 14th. BidaskClub downgraded shares of Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Finally, ValuEngine downgraded shares of Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $168.11.

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Wynn Resorts Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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