American Assets Investment Management LLC Acquires 8,718 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Investment Management LLC raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 38.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,310 shares of the casino operator’s stock after purchasing an additional 8,718 shares during the period. American Assets Investment Management LLC’s holdings in Wynn Resorts were worth $3,002,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC raised its stake in Wynn Resorts by 7.2% during the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp grew its holdings in Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after acquiring an additional 120 shares during the period. Allworth Financial LP raised its position in shares of 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 acquiring an additional 133 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Wynn Resorts by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 149 shares during the period. Finally, Garde Capital Inc. boosted its position in shares of Wynn Resorts by 10.1% during the 1st quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN stock traded down $0.86 on Tuesday, hitting $85.62. The stock had a trading volume of 883,082 shares, compared to its average volume of 2,175,750. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a market cap of $9.40 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 business has a 50 day moving average of $91.15 and a 200 day moving average of $88.36.

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

Wynn Resorts Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.17%. Wynn Resorts’s payout ratio is 12.33%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’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 in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays cut their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Macquarie reissued an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased 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. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, UBS Group raised Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.71.

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.