Fisher Asset Management LLC Grows Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Fisher Asset Management LLC boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 70.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,971,846 shares of the casino operator’s stock after acquiring an additional 1,644,965 shares during the period. Fisher Asset Management LLC owned 3.62% of Wynn Resorts worth $380,821,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the second quarter valued at $25,000. Blue Trust Inc. increased its stake in Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc purchased a new position in Wynn Resorts in the second quarter worth about $51,000. GAMMA Investing LLC lifted its stake in shares of Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after buying an additional 166 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $91.29 on Monday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The company has a market capitalization of $10.03 billion, a P/E ratio of 11.26, a P/E/G ratio of 3.28 and a beta of 1.80. The company has a 50 day simple moving average of $93.59 and a 200-day simple moving average of $88.02.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. As a group, research analysts expect that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on WYNN. Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Susquehanna lifted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. UBS Group raised Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus decreased their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

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.