Renaissance Technologies LLC Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Renaissance Technologies LLC grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 29.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,345,100 shares of the casino operator’s stock after buying an additional 303,033 shares during the period. Renaissance Technologies LLC’s holdings in Wynn Resorts were worth $120,386,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent analyst reports. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Morgan Stanley cut their price objective on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.73.

Wynn Resorts Trading Up 2.9 %

Wynn Resorts stock opened at $78.46 on Monday. The stock has a 50 day moving average of $78.87 and a 200-day moving average of $90.36. The stock has a market cap of $8.71 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.80. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted $0.91 EPS. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.55 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is 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.