Barrow Hanley Mewhinney & Strauss LLC Sells 483,113 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Barrow Hanley Mewhinney & Strauss LLC lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,891,116 shares of the casino operator’s stock after selling 483,113 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 2.58% of Wynn Resorts worth $258,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of WYNN. International Assets Investment Management LLC bought a new stake in Wynn Resorts in the second quarter valued at approximately $25,000. ICA Group Wealth Management LLC bought a new stake in shares of Wynn Resorts in the 4th quarter valued at $27,000. Register Financial Advisors LLC acquired a new stake in Wynn Resorts during the 1st quarter worth $37,000. Neo Ivy Capital Management bought a new position in Wynn Resorts during the fourth quarter worth about $40,000. Finally, Versant Capital Management Inc acquired a new position in Wynn Resorts in the second quarter valued at about $51,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus cut their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Morgan Stanley dropped their price objective on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Five equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.73.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $79.71 on Friday. The stock has a 50-day simple moving average of $78.33 and a 200 day simple moving average of $89.67. The stock has a market capitalization of $8.93 billion, a P/E ratio of 10.92, a PEG ratio of 2.04 and a beta of 1.80. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Wynn Resorts, Limited will post 5.44 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

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.