Achmea Investment Management B.V. Raises Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Achmea Investment Management B.V. boosted its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 41.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. boosted its stake in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after buying an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after buying an additional 409 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Wynn Resorts in the fourth quarter worth approximately $36,000. Canada Post Corp Registered Pension Plan purchased a new stake in Wynn Resorts in the fourth quarter worth approximately $45,000. Finally, Garde Capital Inc. purchased a new stake in Wynn Resorts in the first quarter worth approximately $73,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Up 2.2%

Shares of WYNN stock opened at $94.68 on Friday. The stock has a fifty day moving average of $87.70 and a 200 day moving average of $85.21. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.68 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly 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). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the business earned $1.59 EPS. The business's revenue was down 8.7% compared to the same quarter last year. Equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research reports. Stifel Nicolaus set a $113.00 target price on Wynn Resorts in a research note on Wednesday, May 7th. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Citigroup upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price on the stock. Finally, Mizuho cut their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Three investment 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $112.82.

Insiders Place Their Bets

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 stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the transaction, the director now owns 3,066 shares of the company's stock, 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. 0.52% of the stock is owned by corporate insiders.

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.

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