Wynn Resorts, Limited (NASDAQ:WYNN) Position Cut by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 80.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 39,799 shares of the casino operator’s stock after selling 162,949 shares during the period. Wellington Management Group LLP’s holdings in Wynn Resorts were worth $3,626,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in shares of Wynn Resorts by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after purchasing an additional 109 shares in the last quarter. Federated Hermes Inc. increased its stake in Wynn Resorts by 47.5% during the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after buying an additional 140 shares during the period. CWM LLC raised its position in shares of Wynn Resorts by 9.6% during the 4th quarter. CWM LLC now owns 2,354 shares of the casino operator’s stock worth $214,000 after buying an additional 206 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Wynn Resorts by 0.9% in the 4th quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock worth $2,568,000 after acquiring an additional 241 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Mizuho began coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.31.

Insider Transactions at Wynn Resorts

In related news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the sale, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $89.50 on Monday. The stock’s 50-day moving average is $93.80 and its two-hundred day moving average is $96.92. The stock has a market cap of $10.03 billion, a PE ratio of 12.26 and a beta of 1.85. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.59 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s payout ratio is currently 13.70%.

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.