Renaissance Technologies LLC Buys 184,000 Shares of Wynn Resorts, Limited $WYNN

Renaissance Technologies LLC raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 17.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,239,956 shares of the casino operator’s stock after buying an additional 184,000 shares during the quarter. Renaissance Technologies LLC owned about 1.19% of Wynn Resorts worth $125,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hantz Financial Services Inc. boosted its position in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 89 shares during the period. Horizon Investments LLC increased its holdings in Wynn Resorts by 6.7% during the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock worth $180,000 after acquiring an additional 94 shares during the period. QRG Capital Management Inc. lifted its stake in Wynn Resorts by 4.9% in the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock worth $210,000 after purchasing an additional 96 shares in the last quarter. Parallel Advisors LLC lifted its stake in Wynn Resorts by 21.6% in the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after purchasing an additional 100 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its holdings in Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $96.92 on Friday. Wynn Resorts, Limited has a 1 year low of $92.52 and a 1 year high of $134.72. The firm has a market cap of $10.06 billion, a PE ratio of 28.93, a PEG ratio of 0.95 and a beta of 0.99. The company has a 50 day simple moving average of $100.21 and a two-hundred day simple moving average of $104.96.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. As a group, research analysts anticipate that Wynn Resorts, Limited will post 4.52 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s payout ratio is 29.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Mizuho lowered their price objective on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a research note on Friday, May 8th. Finally, Jefferies Financial Group reduced their target price on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.94.

Wynn Resorts Company Profile

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.