By otakuyassine3@gmail.com 
Franklin Resources Inc. raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 254,143 shares of the casino operator’s stock after acquiring an additional 3,181 shares during the quarter. Franklin Resources Inc. owned approximately 0.23% of Wynn Resorts worth $21,897,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after purchasing an additional 485,204 shares during the period. Geode Capital Management LLC boosted its position in Wynn Resorts by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after buying an additional 34,907 shares during the period. Norges Bank purchased a new stake in Wynn Resorts in the 4th quarter valued at about $117,352,000. Charles Schwab Investment Management Inc. grew its stake in Wynn Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after acquiring an additional 5,032 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts during the fourth quarter worth approximately $75,872,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.
Insider Buying and Selling at Wynn Resorts
In related news, major shareholder Tilman J. Fertitta purchased 5,025 shares of Wynn Resorts stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the transaction, the insider now owns 10,905,025 shares in the company, valued at $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is owned by insiders.
Wynn Resorts Trading Down 3.8 %
NASDAQ:WYNN opened at $70.09 on Monday. The firm has a fifty day simple moving average of $85.25 and a 200-day simple moving average of $89.30. Wynn Resorts, Limited has a 12 month low of $66.20 and a 12 month high of $108.50. The company has a market capitalization of $7.44 billion, a P/E ratio of 16.65, a PEG ratio of 2.35 and a beta of 1.53.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.
Wynn Resorts Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. Wynn Resorts’s dividend payout ratio is presently 23.75%.
Wall Street Analysts Forecast Growth
WYNN has been the topic of several research analyst reports. Barclays increased their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and raised their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Stifel Nicolaus upped their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.
View Our Latest Report on WYNN
Wynn Resorts Company Profile
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.
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