Bamco Inc. NY Reduces Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Bamco Inc. NY reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 86.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,516 shares of the casino operator’s stock after selling 633,296 shares during the period. Bamco Inc. NY’s holdings in Wynn Resorts were worth $9,829,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WYNN. Fisher Asset Management LLC boosted its stake in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares in the last quarter. Regal Partners Ltd boosted its position in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Wynn Resorts by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock valued at $59,874,000 after acquiring an additional 10,465 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in Wynn Resorts during the third quarter valued at approximately $58,486,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Stifel Nicolaus reduced their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, UBS Group raised Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Performance

WYNN stock opened at $96.16 on Tuesday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The company has a market capitalization of $10.56 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. The company’s 50 day moving average price is $94.90 and its two-hundred day moving average price is $87.85.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts predict that Wynn Resorts, Limited will post 4.78 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Insider Buying and Selling

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

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.