American Assets Inc. Raises Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

American Assets Inc. boosted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 52.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,200 shares of the casino operator’s stock after buying an additional 3,500 shares during the period. Wynn Resorts accounts for 0.3% of American Assets Inc.’s portfolio, making the stock its 8th biggest holding. American Assets Inc.’s holdings in Wynn Resorts were worth $879,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Wynn Resorts in the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $36,000. Spire Wealth Management grew its stake in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WYNN has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Barclays raised their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Price Performance

WYNN opened at $88.72 on Friday. The firm’s fifty day moving average price is $85.35 and its two-hundred day moving average price is $88.32. The company has a market capitalization of $9.44 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, equities research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Wynn Resorts 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.