Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 85.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,268 shares of the casino operator's stock after selling 109,126 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Wynn Resorts were worth $1,574,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new position in shares of Wynn Resorts during the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Wynn Resorts in the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts in the fourth quarter worth about $36,000. Spire Wealth Management boosted its position in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after buying an additional 234 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after buying an additional 122 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Insider Buying and Selling at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now directly owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. This trade represents a 0.05 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 438,700 shares of company stock worth $31,300,943. 0.52% of the stock is owned by insiders.

Wynn Resorts Price Performance

Shares of WYNN stock traded down $1.24 during mid-day trading on Wednesday, hitting $80.31. 1,921,383 shares of the stock traded hands, compared to its average volume of 2,481,176. The stock's fifty day moving average is $81.41 and its two-hundred day moving average is $86.65. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The stock has a market cap of $8.53 billion, a P/E ratio of 19.08, a P/E/G ratio of 2.35 and a beta of 1.53.

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

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio is currently 23.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley decreased their price target 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. Barclays decreased their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Mizuho upped their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and an average price target of $118.17.

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.