Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,183 shares of the casino operator’s stock after purchasing an additional 119 shares during the period. Fifth Third Bancorp’s holdings in Wynn Resorts were worth $188,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WYNN. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts in the 3rd quarter valued at $31,000. Blue Trust Inc. increased its stake in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after acquiring an additional 467 shares during the period. Allworth Financial LP raised its holdings in Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Wynn Resorts by 703.1% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock valued at $99,000 after purchasing an additional 900 shares during the period. Finally, Covestor Ltd boosted its holdings in 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 purchasing an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 3.1 %

Shares of WYNN stock opened at $86.85 on Friday. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 2.42 and a beta of 1.77. The firm has a 50-day moving average price of $88.12 and a 200 day moving average price of $86.95. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data 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 firm 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 business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. As a group, research analysts predict that Wynn Resorts, Limited will post 4.69 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.15%. Wynn Resorts’s payout ratio is currently 12.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WYNN. Jefferies Financial Group reduced their price target on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Macquarie reissued an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday, November 5th. Finally, Barclays dropped their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.23.

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.