Hedges Asset Management LLC Has $2.48 Million Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Hedges Asset Management LLC cut its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,815 shares of the casino operator’s stock after selling 200 shares during the quarter. Wynn Resorts makes up about 1.6% of Hedges Asset Management LLC’s holdings, making the stock its 11th biggest position. Hedges Asset Management LLC’s holdings in Wynn Resorts were worth $2,483,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts in the third quarter worth about $31,000. Blue Trust Inc. grew its holdings in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares during the last quarter. Allworth Financial LP increased its position in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after buying an additional 133 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after buying an additional 900 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Wynn Resorts by 207.4% in the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after acquiring an additional 950 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.1 %

Shares of WYNN stock opened at $85.08 on Friday. The company has a market capitalization of $9.34 billion, a P/E ratio of 10.49, a P/E/G ratio of 2.52 and a beta of 1.77. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a 50-day moving average price of $88.77 and a 200 day moving average price of $86.91.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm 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 posted $0.99 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Wynn Resorts, Limited will post 4.75 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s payout ratio is presently 12.33%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WYNN. Jefferies Financial Group cut their target price on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reduced their target price 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. JPMorgan Chase & Co. boosted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Susquehanna upped their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $117.23.

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.