M&T Bank Corp Raises Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

M&T Bank Corp lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 8.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,358 shares of the casino operator’s stock after acquiring an additional 348 shares during the quarter. M&T Bank Corp’s holdings in Wynn Resorts were worth $418,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WYNN. Groupama Asset Managment purchased a new stake in Wynn Resorts during the third quarter valued at $212,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Wynn Resorts by 15.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,977 shares of the casino operator’s stock worth $2,970,000 after buying an additional 4,212 shares during the last quarter. MML Investors Services LLC raised its position in shares of Wynn Resorts by 135.7% during the 3rd quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator’s stock valued at $1,630,000 after buying an additional 9,788 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Wynn Resorts in the 3rd quarter valued at about $290,000. Finally, Wellington Management Group LLP grew its position in Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after acquiring an additional 54,995 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Barclays dropped their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Stifel Nicolaus decreased their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Down 3.5 %

WYNN opened at $88.70 on Thursday. The stock’s fifty day moving average is $94.13 and its two-hundred day moving average is $87.77. The company has a market capitalization of $9.74 billion, a P/E ratio of 10.94, a PEG ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Wynn Resorts, Limited will post 4.79 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio is presently 12.33%.

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.