Great Lakes Advisors LLC Invests $12.86 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Great Lakes Advisors LLC acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121,756 shares of the casino operator’s stock, valued at approximately $12,859,000. Great Lakes Advisors LLC owned about 0.11% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in WYNN. Fisher Asset Management LLC increased its stake in Wynn Resorts by 71.3% during the 2nd quarter. Fisher Asset Management LLC now owns 3,795,297 shares of the casino operator’s stock worth $400,821,000 after buying an additional 1,579,337 shares during the period. Norges Bank purchased a new stake in Wynn Resorts during the 4th quarter worth approximately $98,726,000. Balyasny Asset Management LLC purchased a new stake in Wynn Resorts during the 3rd quarter worth approximately $26,471,000. Point72 Asset Management L.P. increased its stake in Wynn Resorts by 133.9% during the 4th quarter. Point72 Asset Management L.P. now owns 661,671 shares of the casino operator’s stock worth $54,568,000 after buying an additional 378,775 shares during the period. Finally, Senator Investment Group LP purchased a new stake in Wynn Resorts during the 1st quarter worth approximately $37,490,000. 61.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 500 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $97.61, for a total transaction of $48,805.00. Following the completion of the sale, the director now owns 1,482 shares in the company, valued at approximately $144,658.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. HSBC assumed coverage on shares of Wynn Resorts in a research report on Monday, October 23rd. They issued a “buy” rating and a $111.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Wynn Resorts from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, StockNews.com assumed coverage on shares of Wynn Resorts in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average target price of $120.73.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $86.87 on Friday. The stock has a market cap of $9.81 billion, a P/E ratio of 1,086.01 and a beta of 2.01. The firm has a fifty day moving average price of $90.94 and a 200 day moving average price of $99.14. Wynn Resorts, Limited has a 1-year low of $72.73 and a 1-year high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, November 9th. The casino operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Wynn Resorts had a net margin of 0.58% and a negative return on equity of 6.80%. Wynn Resorts’s quarterly revenue was up 87.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.20) EPS. Sell-side analysts expect that Wynn Resorts, Limited will post 3.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 17th. Wynn Resorts’s dividend payout ratio is currently 1,250.16%.

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.