Brandywine Global Investment Management LLC Acquires New Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Brandywine Global Investment Management LLC bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 60,542 shares of the casino operator’s stock, valued at approximately $5,216,000.

A number of other institutional investors have also recently added to or reduced their stakes in WYNN. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Allstate Corp bought a new stake in shares of Wynn Resorts in the 4th quarter valued at about $249,000. DnB Asset Management AS grew its position in shares of Wynn Resorts by 2.0% in the 4th quarter. DnB Asset Management AS now owns 19,213 shares of the casino operator’s stock valued at $1,655,000 after buying an additional 383 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Wynn Resorts by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator’s stock valued at $2,681,000 after buying an additional 142 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of Wynn Resorts during the fourth quarter worth about $238,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Trading Down 0.9 %

Wynn Resorts stock opened at $82.73 on Wednesday. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The firm’s fifty day moving average price is $85.86 and its two-hundred day moving average price is $89.39. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

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

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s payout ratio is currently 23.75%.

Analyst Ratings Changes

WYNN has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Barclays lifted their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Macquarie reiterated an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Morgan Stanley dropped their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Insider Buying and Selling at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 11,475 shares of Wynn Resorts stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $84.93 per share, with a total value of $974,571.75. Following the transaction, the insider now owns 12,600,000 shares of the company’s stock, valued at approximately $1,070,118,000. This trade represents a 0.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 38,700 shares of company stock worth $3,427,943. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Profile

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.