Brandywine Global Investment Management LLC Invests $5.22 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 60,542 shares of the casino operator’s stock, valued at approximately $5,216,000. Brandywine Global Investment Management LLC owned approximately 0.06% of Wynn Resorts at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WYNN. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after acquiring an additional 485,204 shares during the period. Geode Capital Management LLC grew its holdings in Wynn Resorts by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after purchasing an additional 34,907 shares during the period. Norges Bank acquired a new position in Wynn Resorts during the fourth quarter worth approximately $117,352,000. Charles Schwab Investment Management Inc. raised its stake in Wynn Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock valued at $82,062,000 after buying an additional 5,032 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $75,872,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 0.9 %

WYNN opened at $82.73 on Wednesday. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The company has a 50-day simple moving average of $85.86 and a 200 day simple moving average of $89.39.

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. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Insider Buying and Selling

In related news, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tilman J. Fertitta bought 5,025 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the purchase, the insider now owns 10,905,025 shares of the company’s stock, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 38,700 shares of company stock worth $3,427,943 in the last ninety days. 0.52% of the stock is owned by insiders.

Analyst Ratings Changes

WYNN has been the topic of a number of research analyst reports. Macquarie restated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Mizuho lifted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Barclays boosted their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.58.

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.