Achmea Investment Management B.V. Purchases 3,612 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Achmea Investment Management B.V. boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 41.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,400 shares of the casino operator's stock after buying an additional 3,612 shares during the quarter. Achmea Investment Management B.V.'s holdings in Wynn Resorts were worth $1,036,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its position in shares of Wynn Resorts by 61.9% during the first quarter. Illinois Municipal Retirement Fund now owns 13,971 shares of the casino operator's stock worth $1,167,000 after acquiring an additional 5,342 shares during the last quarter. Hedges Asset Management LLC raised its holdings in Wynn Resorts by 17.0% during the 1st quarter. Hedges Asset Management LLC now owns 33,715 shares of the casino operator's stock worth $2,815,000 after purchasing an additional 4,900 shares during the last quarter. KG&L Capital Management LLC bought a new stake in shares of Wynn Resorts in the 1st quarter valued at $292,000. Bessemer Group Inc. increased its position in shares of Wynn Resorts by 49.0% during the first quarter. Bessemer Group Inc. now owns 994 shares of the casino operator's stock worth $83,000 after buying an additional 327 shares during the period. Finally, Lazari Capital Management Inc. raised its stake in Wynn Resorts by 21.0% during the first quarter. Lazari Capital Management Inc. now owns 29,723 shares of the casino operator's stock worth $2,482,000 after buying an additional 5,164 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Bank of America raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Wednesday, May 7th. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a research report on Wednesday, May 7th. Mizuho decreased their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price objective for the company. Finally, Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $112.82.

Insider Activity

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the purchase, the insider owned 13,000,000 shares of the company's stock, valued at $879,060,000. This represents a 0.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction that occurred 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 completion of the transaction, the director owned 3,066 shares of the company's stock, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

Wynn Resorts Stock Up 2.4%

NASDAQ WYNN traded up $2.50 during trading hours on Wednesday, reaching $104.46. 1,413,265 shares of the company were exchanged, compared to its average volume of 2,594,256. The stock has a market capitalization of $10.92 billion, a P/E ratio of 29.04, a P/E/G ratio of 2.64 and a beta of 1.37. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81. The business's 50 day simple moving average is $88.57 and its 200-day simple moving average is $85.26.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the business earned $1.59 EPS. The company's revenue for the quarter was down 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is currently 27.78%.

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.