Barrow Hanley Mewhinney & Strauss LLC Sells 483,113 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Barrow Hanley Mewhinney & Strauss LLC lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 14.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,891,116 shares of the casino operator’s stock after selling 483,113 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Wynn Resorts were worth $258,755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth $25,000. ICA Group Wealth Management LLC bought a new stake in Wynn Resorts during the fourth quarter worth about $27,000. Register Financial Advisors LLC acquired a new stake in Wynn Resorts during the first quarter worth about $37,000. Neo Ivy Capital Management bought a new position in Wynn Resorts in the 4th quarter valued at about $40,000. Finally, Versant Capital Management Inc acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $51,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $79.71 on Friday. The firm’s fifty day moving average is $78.33 and its 200-day moving average is $89.67. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a market cap of $8.93 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Sell-side analysts forecast that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Analyst Ratings Changes

Several analysts recently issued reports on WYNN shares. Stifel Nicolaus reduced their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Morgan Stanley reduced their target price on Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Macquarie reissued an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Five research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by corporate insiders.

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.