Nordea Investment Management AB Raises Stock Position in Wynn Resorts, Limited $WYNN

Nordea Investment Management AB lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 225.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 353,004 shares of the casino operator’s stock after buying an additional 244,553 shares during the period. Nordea Investment Management AB owned about 0.34% of Wynn Resorts worth $42,629,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in Wynn Resorts in the second quarter worth about $25,000. Root Financial Partners LLC purchased a new stake in Wynn Resorts during the third quarter valued at approximately $26,000. Manchester Capital Management LLC lifted its stake in shares of Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Wynn Resorts in the 3rd quarter valued at approximately $31,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Wynn Resorts by 400.0% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock worth $32,000 after purchasing an additional 200 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $101.13 on Tuesday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 11.33 and a beta of 1.01. The stock has a 50 day moving average price of $109.42 and a 200 day moving average price of $118.63.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results 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). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm earned $2.42 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

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

Analyst Ratings Changes

WYNN has been the topic of several analyst reports. Barclays boosted their target price on Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Jefferies Financial Group lifted their price objective on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $144.00 price objective on shares of Wynn Resorts in a research report on Friday, February 13th. Wells Fargo & Company reduced their target price on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $138.87.

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.