Mediolanum International Funds Ltd Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Mediolanum International Funds Ltd acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,514 shares of the casino operator’s stock, valued at approximately $301,000.

Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in shares of Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Wynn Resorts in the third quarter valued at about $58,486,000. Weiss Asset Management LP purchased a new stake in shares of Wynn Resorts in the third quarter valued at about $19,753,000. Finally, Regal Partners Ltd grew its holdings in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WYNN. Barclays dropped their price objective 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. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Susquehanna increased their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group lowered their target price on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, January 3rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $117.23.

Wynn Resorts Stock Down 3.1 %

WYNN opened at $86.85 on Monday. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a 50 day moving average of $88.12 and a two-hundred day moving average of $86.97. The company has a market cap of $9.54 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.42 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last released 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). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts anticipate that Wynn Resorts, Limited will post 4.69 earnings per share for the current year.

Wynn Resorts 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.