Bridgewater Associates LP Buys 12,111 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Bridgewater Associates LP increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 119,706 shares of the casino operator’s stock after purchasing an additional 12,111 shares during the quarter. Bridgewater Associates LP owned approximately 0.11% of Wynn Resorts worth $11,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its holdings in shares of Wynn Resorts by 70.7% during the 3rd 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 period. Renaissance Technologies LLC boosted its holdings in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the period. Regal Partners Ltd boosted its holdings in Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Wynn Resorts in the third quarter worth about $58,486,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Wynn Resorts by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 568,686 shares of the casino operator’s stock worth $50,897,000 after purchasing an additional 23,314 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group raised Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating 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 note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Macquarie reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Four 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $91.67 on Friday. The business’s fifty day moving average price is $94.38 and its two-hundred day moving average price is $87.98. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 3.36 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. Research analysts expect that Wynn Resorts, Limited will post 4.78 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

Insider Buying and Selling

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 transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.

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.