Intech Investment Management LLC Increases Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Intech Investment Management LLC lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 888.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,757 shares of the casino operator’s stock after acquiring an additional 66,297 shares during the period. Intech Investment Management LLC owned 0.07% of Wynn Resorts worth $6,720,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WYNN. Norges Bank purchased a new position in shares of Wynn Resorts during the 4th quarter worth about $157,305,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Wynn Resorts by 20,031.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock worth $46,807,000 after acquiring an additional 504,003 shares during the period. Invesco Ltd. increased its position in Wynn Resorts by 20.7% during the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after purchasing an additional 248,820 shares in the last quarter. Barclays PLC increased its position in Wynn Resorts by 41.6% during the 3rd quarter. Barclays PLC now owns 544,831 shares of the casino operator’s stock worth $50,345,000 after purchasing an additional 160,054 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Wynn Resorts during the 3rd quarter worth approximately $13,610,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WYNN shares. Barclays increased their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. UBS Group dropped their target price on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Citigroup increased their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.79.

Wynn Resorts Stock Up 0.6 %

Shares of Wynn Resorts stock traded up $0.53 on Friday, hitting $94.62. 1,035,481 shares of the company’s stock traded hands, compared to its average volume of 1,750,355. The firm’s 50-day moving average is $99.13 and its 200 day moving average is $95.95. Wynn Resorts, Limited has a 52-week low of $81.65 and a 52-week high of $112.25. The stock has a market cap of $10.60 billion, a P/E ratio of 12.96 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. Equities research analysts forecast that Wynn Resorts, Limited will post 5.58 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Wynn Resorts 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.