American Assets Investment Management LLC Cuts Position in Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Investment Management LLC trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 29,924 shares of the casino operator’s stock after selling 1,386 shares during the quarter. American Assets Investment Management LLC’s holdings in Wynn Resorts were worth $2,578,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WYNN. Fisher Asset Management LLC increased its stake in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Wynn Resorts in the fourth quarter valued at approximately $75,872,000. Holocene Advisors LP increased its stake in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Wynn Resorts in the third quarter valued at approximately $58,486,000. Finally, Weiss Asset Management LP purchased a new position in Wynn Resorts in the third quarter valued at approximately $19,753,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $86.42 on Tuesday. The stock has a fifty day moving average price of $85.50 and a 200 day moving average price of $88.80. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market cap of $9.20 billion, a PE ratio of 20.53, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Barclays increased their price objective on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and increased their price objective for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Macquarie reissued an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Mizuho increased their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

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.