Wynn Resorts, Limited (NASDAQ:WYNN) Position Lifted by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 483.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,500 shares of the casino operator’s stock after purchasing an additional 12,844 shares during the period. Federated Hermes Inc.’s holdings in Wynn Resorts were worth $1,387,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Qsemble Capital Management LP raised its stake in Wynn Resorts by 640.5% during the second quarter. Qsemble Capital Management LP now owns 17,498 shares of the casino operator’s stock valued at $1,566,000 after buying an additional 15,135 shares in the last quarter. AdvisorShares Investments LLC bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $411,000. ClariVest Asset Management LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter valued at approximately $1,718,000. Daiwa Securities Group Inc. lifted its stake in Wynn Resorts by 7.7% during the second quarter. Daiwa Securities Group Inc. now owns 10,642 shares of the casino operator’s stock worth $952,000 after purchasing an additional 759 shares during the last quarter. Finally, Andra AP fonden boosted its holdings in Wynn Resorts by 9.6% in the second quarter. Andra AP fonden now owns 102,600 shares of the casino operator’s stock worth $9,183,000 after purchasing an additional 9,000 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of recent research reports. Jefferies Financial Group reduced their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Macquarie reaffirmed an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Wells Fargo & Company dropped their price target on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $113.73.

Wynn Resorts Trading Down 0.6 %

NASDAQ:WYNN opened at $79.71 on Friday. The business’s fifty day moving average price is $78.45 and its 200 day moving average price is $89.88. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 2.04 and a beta of 1.80. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 5.44 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

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.