Horizon Kinetics Asset Management LLC Buys New Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Horizon Kinetics Asset Management LLC bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, HoldingsChannel.com reports. The fund bought 2,611 shares of the casino operator’s stock, valued at approximately $250,000.

A number of other institutional investors also recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after buying an additional 1,644,965 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Wynn Resorts by 13.3% in the third quarter. Daiwa Securities Group Inc. now owns 12,058 shares of the casino operator’s stock worth $1,156,000 after buying an additional 1,416 shares during the last quarter. Cerity Partners LLC lifted its position in Wynn Resorts by 7.0% in the third quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock worth $5,150,000 after buying an additional 3,521 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Wynn Resorts during the third quarter worth $58,486,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Wynn Resorts during the third quarter worth $202,000. 68.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WYNN. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Macquarie restated an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $91.86 on Wednesday. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 3.36 and a beta of 1.80. The stock’s 50-day simple moving average is $93.88 and its 200-day simple moving average is $87.99.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. Wynn Resorts’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 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 dividend yield of 1.09%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

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.