Bank Pictet & Cie Europe AG bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,235 shares of the casino operator's stock, valued at approximately $270,000.
Several other institutional investors have also recently made changes to their positions in WYNN. Van ECK Associates Corp grew its holdings in Wynn Resorts by 70.7% during the 4th quarter. Van ECK Associates Corp now owns 72,242 shares of the casino operator's stock valued at $6,224,000 after buying an additional 29,931 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Wynn Resorts by 1.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 36,309 shares of the casino operator's stock worth $3,220,000 after purchasing an additional 569 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Wynn Resorts by 11.8% in the 4th quarter. Vontobel Holding Ltd. now owns 9,744 shares of the casino operator's stock valued at $840,000 after purchasing an additional 1,026 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Wynn Resorts by 6.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 35,932 shares of the casino operator's stock worth $3,096,000 after purchasing an additional 2,040 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of Wynn Resorts by 8.1% in the fourth quarter. Sanctuary Advisors LLC now owns 4,201 shares of the casino operator's stock worth $376,000 after buying an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.
Insider Buying and Selling
In other news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the acquisition, the insider now owns 13,000,000 shares in the company, valued at $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the sale, the director now owns 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 416,500 shares of company stock valued at $29,254,547 over the last three months. Corporate insiders own 0.52% of the company's stock.
Wynn Resorts Stock Down 0.1%
Shares of WYNN traded down $0.05 during trading hours on Wednesday, hitting $87.23. The company had a trading volume of 232,583 shares, compared to its average volume of 2,625,101. The firm has a market cap of $9.12 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.50 and a beta of 1.37. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The stock's 50 day moving average price is $85.11 and its 200 day moving average price is $85.47.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. Wynn Resorts's revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.59 EPS. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.
Wynn Resorts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, May 16th. Wynn Resorts's dividend payout ratio is currently 27.78%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on WYNN shares. Barclays decreased their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research report on Wednesday, May 7th. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $113.18.
Get Our Latest Analysis on WYNN
Wynn Resorts Profile
(
Free Report)
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.
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