American Assets Investment Management LLC Increases Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Investment Management LLC increased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 38.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,310 shares of the casino operator’s stock after acquiring an additional 8,718 shares during the quarter. American Assets Investment Management LLC’s holdings in Wynn Resorts were worth $3,002,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Wynn Resorts by 25.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,810 shares of the casino operator’s stock worth $1,567,000 after buying an additional 2,982 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Wynn Resorts by 2.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 19,706 shares of the casino operator’s stock valued at $2,015,000 after acquiring an additional 531 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Wynn Resorts in the first quarter worth approximately $180,000. Finally, Qsemble Capital Management LP purchased a new stake in Wynn Resorts in the first quarter valued at approximately $242,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Stifel Nicolaus reduced their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Susquehanna lifted their price target on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Trading Down 1.0 %

Shares of NASDAQ:WYNN traded down $0.86 during trading on Tuesday, reaching $85.62. 883,082 shares of the company traded hands, compared to its average volume of 2,175,750. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 2.41 and a beta of 1.80. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The business’s fifty day moving average is $91.15 and its 200-day moving average is $88.36.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.99 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that Wynn Resorts, Limited will post 4.9 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company’s stock.

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.