ClariVest Asset Management LLC Buys New Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

ClariVest Asset Management LLC purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,191 shares of the casino operator’s stock, valued at approximately $1,718,000.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Wynn Resorts during the 4th quarter worth $157,305,000. Interval Partners LP boosted its position in shares of Wynn Resorts by 999.0% during the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after acquiring an additional 364,432 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after acquiring an additional 253,761 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $75.77 on Thursday. The business has a 50 day simple moving average of $79.25 and a 200-day simple moving average of $90.80. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a market capitalization of $8.41 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.72 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.55 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WYNN. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Macquarie reiterated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research report on Wednesday, August 7th. Finally, Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.07.

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.