American Assets Inc. Acquires Shares of 6,700 Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Inc. acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,700 shares of the casino operator’s stock, valued at approximately $642,000. Wynn Resorts makes up about 0.2% of American Assets Inc.’s portfolio, making the stock its 10th largest holding.

Other institutional investors also recently modified their holdings of the company. Crystal Rock Capital Management bought a new stake in shares of Wynn Resorts in the 3rd quarter valued at about $719,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Wynn Resorts by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock valued at $18,098,000 after buying an additional 7,850 shares during the last quarter. Covestor Ltd grew its position in shares of Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after buying an additional 950 shares during the last quarter. XML Financial LLC grew its position in shares of Wynn Resorts by 5.9% in the 3rd quarter. XML Financial LLC now owns 7,228 shares of the casino operator’s stock valued at $693,000 after buying an additional 405 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Wynn Resorts by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock valued at $10,361,000 after buying an additional 2,001 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on WYNN. Stifel Nicolaus cut their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Trading Down 1.3 %

Wynn Resorts stock traded down $1.15 during trading on Tuesday, hitting $85.33. The company had a trading volume of 476,051 shares, compared to its average volume of 2,173,892. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.80. The company’s 50 day simple moving average is $91.15 and its 200-day simple moving average is $88.36.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, analysts forecast that Wynn Resorts, Limited will post 4.9 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. 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 dividend 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 that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Company 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.