Gamco Investors INC. ET AL Decreases Stock Holdings in Wynn Resorts, Limited $WYNN

Gamco Investors INC. ET AL reduced its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 8.6% during the first quarter, HoldingsChannel.com reports. The fund owned 75,177 shares of the casino operator’s stock after selling 7,100 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Wynn Resorts were worth $7,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WYNN. Hantz Financial Services Inc. grew its stake in Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Cromwell Holdings LLC grew its position in Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after buying an additional 103 shares during the period. MUFG Securities EMEA plc bought a new position in Wynn Resorts during the second quarter valued at about $25,000. SHP Wealth Management purchased a new stake in Wynn Resorts during the fourth quarter worth about $32,000. Finally, International Assets Investment Management LLC purchased a new stake in Wynn Resorts during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $96.92 on Monday. The firm has a market capitalization of $10.06 billion, a PE ratio of 28.93, a P/E/G ratio of 0.95 and a beta of 0.99. Wynn Resorts, Limited has a twelve month low of $92.52 and a twelve month high of $134.72. The company has a 50-day moving average price of $100.21 and a two-hundred day moving average price of $104.86.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The company 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 company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Analysts anticipate that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $128.00 target price on shares of Wynn Resorts in a research note on Wednesday. Citigroup lowered their price target on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Zacks Research downgraded Wynn Resorts from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Barclays reduced their price objective on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 target price on shares of Wynn Resorts in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.94.

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.