GAM Holding AG Purchases Shares of 47,780 Wynn Resorts, Limited $WYNN

GAM Holding AG purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 47,780 shares of the casino operator’s stock, valued at approximately $6,129,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bamco Inc. NY increased its holdings in Wynn Resorts by 56.5% during the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after buying an additional 482,570 shares during the last quarter. Norges Bank bought a new stake in shares of Wynn Resorts during the 2nd quarter valued at $106,289,000. Palidye Holdings Caymans Ltd purchased a new stake in shares of Wynn Resorts in the 2nd quarter worth $104,629,000. Raymond James Financial Inc. lifted its position in Wynn Resorts by 6.5% during the second quarter. Raymond James Financial Inc. now owns 1,056,019 shares of the casino operator’s stock valued at $98,917,000 after purchasing an additional 63,997 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in shares of Wynn Resorts by 53.4% during the 2nd quarter. DAVENPORT & Co LLC now owns 913,086 shares of the casino operator’s stock valued at $85,895,000 after buying an additional 317,850 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 1.9%

Shares of Wynn Resorts stock opened at $122.57 on Friday. The firm has a market cap of $12.74 billion, a PE ratio of 27.42, a PEG ratio of 6.79 and a beta of 1.10. The stock has a 50 day moving average of $124.32 and a 200 day moving average of $117.60. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company earned $0.90 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WYNN shares. UBS Group set a $164.00 price target on shares of Wynn Resorts in a research report on Wednesday, December 24th. JPMorgan Chase & Co. boosted their price objective on Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $148.00 price objective on shares of Wynn Resorts in a research note on Monday, December 15th. Barclays lifted their target price on Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Mizuho upped their price target on Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.69.

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.