BI Asset Management Fondsmaeglerselskab A S Acquires 12,993 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 190.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,798 shares of the casino operator's stock after acquiring an additional 12,993 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Wynn Resorts were worth $1,706,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Wynn Resorts by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 613,343 shares of the casino operator's stock valued at $52,845,000 after acquiring an additional 13,100 shares during the period. First Trust Advisors LP lifted its position in Wynn Resorts by 2.7% during the fourth quarter. First Trust Advisors LP now owns 85,083 shares of the casino operator's stock worth $7,331,000 after purchasing an additional 2,251 shares during the period. Commerce Bank lifted its position in Wynn Resorts by 4.2% during the fourth quarter. Commerce Bank now owns 9,802 shares of the casino operator's stock worth $845,000 after purchasing an additional 399 shares during the period. GKV Capital Management Co. Inc. bought a new stake in Wynn Resorts during the fourth quarter worth about $272,000. Finally, Long Pond Capital LP lifted its position in Wynn Resorts by 89.5% during the fourth quarter. Long Pond Capital LP now owns 761,897 shares of the casino operator's stock worth $65,645,000 after purchasing an additional 359,793 shares during the period. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock traded up $0.53 on Friday, hitting $82.11. The stock had a trading volume of 1,466,758 shares, compared to its average volume of 2,489,179. The stock has a 50 day moving average of $82.06 and a 200 day moving average of $86.88. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The firm has a market capitalization of $8.72 billion, a P/E ratio of 19.50, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, February 24th. Wynn Resorts's payout ratio is 23.75%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Macquarie reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Jefferies Financial Group raised 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 research report on Tuesday, February 18th. Mizuho upped their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Morgan Stanley lowered their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Barclays lowered their target price on 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, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and an average target price of $118.17.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares of the company's stock, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Tilman J. Fertitta bought 100,000 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the transaction, the insider now owns 13,000,000 shares of the company's stock, valued at $879,060,000. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 438,700 shares of company stock worth $31,300,943. Corporate insiders own 0.52% of the company's stock.

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.