Gabelli Funds LLC Decreases Holdings in Wynn Resorts, Limited $WYNN

Gabelli Funds LLC reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,600 shares of the casino operator’s stock after selling 6,100 shares during the period. Gabelli Funds LLC’s holdings in Wynn Resorts were worth $7,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its position in Wynn Resorts by 121.3% in the third quarter. Barclays PLC now owns 506,945 shares of the casino operator’s stock worth $65,026,000 after purchasing an additional 277,917 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Wynn Resorts by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 823,990 shares of the casino operator’s stock valued at $105,715,000 after buying an additional 10,041 shares during the period. Picton Mahoney Asset Management bought a new position in Wynn Resorts in the third quarter worth approximately $1,563,000. Victory Capital Management Inc. boosted its stake in shares of Wynn Resorts by 90.9% during the 3rd quarter. Victory Capital Management Inc. now owns 22,346 shares of the casino operator’s stock worth $2,866,000 after acquiring an additional 10,639 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Wynn Resorts in the 3rd quarter worth $73,588,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Mizuho raised their target price on shares of Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Macquarie Infrastructure reiterated an “outperform” rating and issued a $143.00 price target on shares of Wynn Resorts in a research report on Monday, December 8th. Barclays lifted their target price on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, Susquehanna reissued a “positive” rating and set a $133.00 price target on shares of Wynn Resorts in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.87.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $101.56 on Tuesday. The company has a market cap of $10.59 billion, a P/E ratio of 33.85, a P/E/G ratio of 12.12 and a beta of 1.01. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72. The firm’s fifty day moving average is $113.05 and its two-hundred day moving average is $120.16.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 EPS. As a group, analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts’s dividend payout ratio is currently 33.33%.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.