Legal & General Group Plc Has $16.61 Million Stake in Wynn Resorts, Limited $WYNN

Legal & General Group Plc lowered its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 138,021 shares of the casino operator’s stock after selling 6,267 shares during the period. Legal & General Group Plc’s holdings in Wynn Resorts were worth $16,608,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Wynn Resorts by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP increased its holdings in Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Wynn Resorts by 13.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after buying an additional 201 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of Wynn Resorts by 9.5% during the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after buying an additional 868 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Barclays cut their target price on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company set a $142.00 target price on shares of Wynn Resorts and gave the stock an “overweight” rating in a research note on Sunday, May 10th. Bank of America cut their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Mizuho cut their target price on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Trading Up 5.2%

Wynn Resorts stock opened at $106.53 on Tuesday. Wynn Resorts, Limited has a 1-year low of $82.63 and a 1-year high of $134.72. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 0.93 and a beta of 0.98. The firm’s fifty day moving average price is $102.19 and its two-hundred day moving average price is $111.43.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts forecast that Wynn Resorts, Limited will post 4.68 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is 29.85%.

Wynn Resorts 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.