American Assets Investment Management LLC Cuts Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Investment Management LLC lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 4.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,924 shares of the casino operator’s stock after selling 1,386 shares during the quarter. American Assets Investment Management LLC’s holdings in Wynn Resorts were worth $2,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WYNN. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the third quarter worth $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Wynn Resorts during the fourth quarter worth $36,000. Spire Wealth Management grew its holdings in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $86.42 on Tuesday. The stock has a market capitalization of $9.20 billion, a P/E ratio of 20.53, a PEG ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The firm’s 50-day moving average is $85.50 and its two-hundred day moving average is $88.80.

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

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

WYNN has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Barclays boosted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Morgan Stanley lowered their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Mizuho boosted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Two investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.58.

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.