Principal Financial Group Inc. Acquires 2,001 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Principal Financial Group Inc. boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 108,067 shares of the casino operator’s stock after purchasing an additional 2,001 shares during the quarter. Principal Financial Group Inc.’s holdings in Wynn Resorts were worth $10,361,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WYNN. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts in the second quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Wynn Resorts in the 3rd quarter valued at $31,000. Blue Trust Inc. lifted its stake in Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares in the last quarter. Allworth Financial LP boosted its holdings in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after acquiring an additional 133 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Wynn Resorts by 703.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Susquehanna boosted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Finally, Morgan Stanley raised their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Down 3.2 %

WYNN opened at $85.83 on Tuesday. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 3.46 and a beta of 1.78. The firm has a 50-day moving average price of $92.36 and a 200-day moving average price of $87.54. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm earned $0.99 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Wynn Resorts, Limited will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.17%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Wynn Resorts Company 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.