Barrow Hanley Mewhinney & Strauss LLC Buys 485,204 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,125,668 shares of the casino operator’s stock after purchasing an additional 485,204 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 2.85% of Wynn Resorts worth $269,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Wynn Resorts by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after purchasing an additional 34,907 shares during the last quarter. Norges Bank acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $117,352,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Wynn Resorts by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after acquiring an additional 5,032 shares during the period. Raymond James Financial Inc. bought a new position in shares of Wynn Resorts during the 4th quarter worth approximately $75,872,000. Finally, Holocene Advisors LP raised its stake in Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after acquiring an additional 755,236 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of research analyst reports. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays lifted their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Stifel Nicolaus increased their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho boosted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Price Performance

Shares of WYNN opened at $82.33 on Friday. The firm has a 50 day simple moving average of $85.96 and a two-hundred day simple moving average of $89.22. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The company has a market cap of $8.74 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Wynn Resorts’s payout ratio is currently 23.75%.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the purchase, the insider now directly owns 12,600,000 shares in the company, valued at $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is owned by insiders.

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.