Baldwin Investment Management LLC Makes New $398,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Baldwin Investment Management LLC bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,155 shares of the casino operator’s stock, valued at approximately $398,000.

Several other institutional investors and hedge funds have also modified their holdings of WYNN. Fisher Asset Management LLC lifted its holdings in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Wynn Resorts during the third quarter valued at approximately $58,486,000. Renaissance Technologies LLC lifted its stake in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Wynn Resorts by 6,720.4% in the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after acquiring an additional 253,761 shares in the last quarter. Finally, Regal Partners Ltd increased its stake in shares of Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WYNN. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Susquehanna raised their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus decreased their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN opened at $91.67 on Thursday. The company has a 50-day simple moving average of $94.12 and a 200-day simple moving average of $87.96. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a market capitalization of $10.07 billion, a P/E ratio of 11.30, a P/E/G ratio of 3.30 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted 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). 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 analyst estimates of $1.73 billion. During the same period last year, the company earned $0.99 EPS. The company’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts forecast that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.09%. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

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.