Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 32.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,858 shares of the casino operator's stock after selling 105,423 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.20% of Wynn Resorts worth $18,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after purchasing an additional 485,204 shares in the last quarter. Geode Capital Management LLC raised its stake in Wynn Resorts by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock worth $209,120,000 after acquiring an additional 26,792 shares in the last quarter. Renaissance Technologies LLC raised its stake in Wynn Resorts by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock worth $139,300,000 after acquiring an additional 228,000 shares in the last quarter. Norges Bank purchased a new stake in Wynn Resorts in the fourth quarter valued at $117,352,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Wynn Resorts in the fourth quarter valued at $101,375,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Tilman J. Fertitta acquired 11,475 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $84.93 per share, with a total value of $974,571.75. Following the purchase, the insider now directly owns 12,600,000 shares of the company's stock, valued at approximately $1,070,118,000. This trade represents a 0.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares of the company's stock, valued at $3,152,095.10. This represents a 185.08% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 438,700 shares of company stock worth $31,300,943 in the last 90 days. 0.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of research analyst reports. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Morgan Stanley decreased their price objective on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a report on Wednesday, May 7th. Finally, Barclays decreased their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $112.92.

Wynn Resorts Stock Performance

WYNN traded down $0.21 during trading on Monday, reaching $96.55. The company's stock had a trading volume of 1,621,595 shares, compared to its average volume of 2,528,714. The company's fifty day moving average price is $81.46 and its 200-day moving average price is $85.67. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm's quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 earnings per share. Equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.

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.