Groupama Asset Managment Acquires New Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Groupama Asset Managment bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,213 shares of the casino operator’s stock, valued at approximately $212,000.

Other institutional investors 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 acquiring an additional 174,005 shares in the last quarter. Crystal Rock Capital Management purchased a new stake in shares of Wynn Resorts during the 3rd quarter worth about $719,000. MBB Public Markets I LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter valued at about $698,000. APG Asset Management N.V. grew its stake in shares of Wynn Resorts by 231.0% in the 2nd quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock valued at $933,000 after buying an additional 7,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Wynn Resorts in the second quarter worth approximately $7,133,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $95.94 on Tuesday. The firm’s 50-day moving average is $95.63 and its 200-day moving average is $87.79. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 3.45 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (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 the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Equities analysts predict that Wynn Resorts, Limited will post 4.79 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.04%. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WYNN. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Stifel Nicolaus reduced 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. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Susquehanna boosted their price target 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 upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.71.

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.