American Assets Inc. Increases Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Inc. lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 52.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,200 shares of the casino operator’s stock after purchasing an additional 3,500 shares during the quarter. Wynn Resorts comprises about 0.3% of American Assets Inc.’s holdings, making the stock its 8th biggest holding. American Assets Inc.’s holdings in Wynn Resorts were worth $879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in Wynn Resorts by 4.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,148 shares of the casino operator’s stock valued at $961,000 after buying an additional 444 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of Wynn Resorts during the fourth quarter valued at $306,000. Candriam S.C.A. bought a new position in Wynn Resorts in the fourth quarter valued at about $558,000. Raymond James Financial Inc. acquired a new stake in Wynn Resorts in the fourth quarter worth about $75,872,000. Finally, Proficio Capital Partners LLC bought a new stake in Wynn Resorts during the 4th quarter worth about $1,752,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $88.72 on Friday. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.35 and a beta of 1.77. The business has a 50 day simple moving average of $85.35 and a 200 day simple moving average of $88.32. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent research reports. Mizuho raised their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Barclays increased their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Morgan Stanley decreased their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Stifel Nicolaus increased their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.