Bridgewater Associates LP Has $11.48 Million Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Bridgewater Associates LP grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 11.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 119,706 shares of the casino operator’s stock after purchasing an additional 12,111 shares during the period. Bridgewater Associates LP’s holdings in Wynn Resorts were worth $11,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baldwin Investment Management LLC acquired a new stake in shares of Wynn Resorts during the 3rd quarter worth approximately $398,000. Horizon Kinetics Asset Management LLC bought a new position in Wynn Resorts in the third quarter valued at approximately $250,000. Fisher Asset Management LLC grew its holdings in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Wynn Resorts by 13.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,058 shares of the casino operator’s stock valued at $1,156,000 after acquiring an additional 1,416 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Wynn Resorts by 7.0% in the 3rd quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock valued at $5,150,000 after purchasing an additional 3,521 shares during the period. Institutional investors own 68.87% of the company’s stock.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WYNN shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Stifel Nicolaus lowered their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Susquehanna increased their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, Macquarie reissued an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $91.67 on Friday. The firm has a market cap of $10.07 billion, a PE ratio of 11.30, a P/E/G ratio of 3.36 and a beta of 1.80. The business’s 50 day simple moving average is $94.38 and its 200 day simple moving average is $87.98. 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 data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. As a group, equities research analysts predict that Wynn Resorts, Limited will post 4.78 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s payout ratio is 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.