Wakefield Asset Management LLLP Has $2.93 Million Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Wakefield Asset Management LLLP cut its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,705 shares of the casino operator’s stock after selling 566 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Wynn Resorts were worth $2,927,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of WYNN. National Bank of Canada FI boosted its stake in Wynn Resorts by 23.6% during the 2nd quarter. National Bank of Canada FI now owns 35,210 shares of the casino operator’s stock valued at $3,087,000 after purchasing an additional 6,722 shares during the period. First Dallas Securities Inc. grew its stake in shares of Wynn Resorts by 14.7% in the second quarter. First Dallas Securities Inc. now owns 23,351 shares of the casino operator’s stock worth $2,090,000 after acquiring an additional 3,001 shares during the last quarter. TD Asset Management Inc increased its position in Wynn Resorts by 115.5% during the second quarter. TD Asset Management Inc now owns 55,217 shares of the casino operator’s stock worth $4,942,000 after acquiring an additional 29,596 shares during the period. Hodges Capital Management Inc. boosted its holdings in Wynn Resorts by 6.3% in the 2nd quarter. Hodges Capital Management Inc. now owns 231,004 shares of the casino operator’s stock valued at $20,675,000 after purchasing an additional 13,766 shares during the period. Finally, Regal Partners Ltd raised its position in shares of Wynn Resorts by 5.6% during the second quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock valued at $64,861,000 after buying an additional 38,344 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN opened at $76.72 on Friday. The firm has a market capitalization of $8.52 billion, a PE ratio of 10.51, a P/E/G ratio of 1.73 and a beta of 1.80. The stock has a 50 day simple moving average of $79.92 and a 200 day simple moving average of $91.45. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts predict that Wynn Resorts, Limited will post 5.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group decreased their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. cut their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday, May 23rd. Finally, Macquarie reiterated an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.07.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.