Wynn Resorts, Limited $WYNN Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 82.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,757 shares of the casino operator’s stock after selling 94,869 shares during the period. Assenagon Asset Management S.A.’s holdings in Wynn Resorts were worth $2,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WYNN. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its stake in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. Cromwell Holdings LLC raised its holdings in Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares in the last quarter. SHP Wealth Management bought a new position in shares of Wynn Resorts during the fourth quarter worth about $32,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WYNN has been the subject of several analyst reports. Barclays reduced their price target on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Mizuho reduced their price objective on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Susquehanna cut their price objective on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a report on Thursday, April 16th. JPMorgan Chase & Co. cut their target price on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Morgan Stanley lowered their target price on shares of Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $96.11 on Thursday. Wynn Resorts, Limited has a one year low of $93.44 and a one year high of $134.72. The firm has a market cap of $9.98 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 0.90 and a beta of 0.99. The stock’s 50 day simple moving average is $102.45 and its 200 day simple moving average is $108.11.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. As a group, equities analysts expect that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is 29.85%.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.