Mediolanum International Funds Ltd Makes New $301,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Mediolanum International Funds Ltd bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,514 shares of the casino operator’s stock, valued at approximately $301,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Regal Partners Ltd raised its holdings in shares of Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares during the period. Wellington Management Group LLP raised its holdings in shares of Wynn Resorts by 90.6% during the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after purchasing an additional 54,995 shares during the period. Empirical Asset Management LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $903,000. Crystal Rock Capital Management acquired a new stake in shares of Wynn Resorts during the third quarter worth $719,000. Finally, ARGA Investment Management LP acquired a new stake in shares of Wynn Resorts during the third quarter worth $2,174,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Trading Down 3.1 %

WYNN stock opened at $86.85 on Monday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The firm has a market capitalization of $9.54 billion, a PE ratio of 10.71, a P/E/G ratio of 2.42 and a beta of 1.77. The firm has a 50-day moving average of $88.12 and a two-hundred day moving average of $86.97.

Wynn Resorts (NASDAQ:WYNN) last posted 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). 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 period in the prior year, the company posted $0.99 earnings per share. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 4.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WYNN. Barclays lowered their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley upped their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group lowered their price target on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $117.23.

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.