Banque Pictet & Cie SA Acquires 11,213 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Banque Pictet & Cie SA grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,020 shares of the casino operator's stock after purchasing an additional 11,213 shares during the quarter. Banque Pictet & Cie SA owned approximately 0.09% of Wynn Resorts worth $8,352,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WYNN. BOKF NA lifted its stake in Wynn Resorts by 3.9% in the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator's stock worth $289,000 after purchasing an additional 132 shares during the last quarter. Snowden Capital Advisors LLC lifted its stake in Wynn Resorts by 5.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock worth $223,000 after purchasing an additional 138 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Wynn Resorts by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock worth $2,681,000 after purchasing an additional 142 shares during the last quarter. Navalign LLC lifted its stake in Wynn Resorts by 1.8% in the first quarter. Navalign LLC now owns 8,252 shares of the casino operator's stock worth $689,000 after purchasing an additional 144 shares during the last quarter. Finally, Grassi Investment Management lifted its stake in Wynn Resorts by 4.2% in the first quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock worth $308,000 after purchasing an additional 150 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WYNN has been the subject of several recent research reports. Citigroup reissued a "neutral" rating and issued a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday. The Goldman Sachs Group started coverage on shares of Wynn Resorts in a report on Monday. They issued a "buy" rating and a $122.00 target price on the stock. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. 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. Finally, Wall Street Zen lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $112.71.

Wynn Resorts Trading Up 1.4%

WYNN traded up $1.52 during trading on Thursday, reaching $111.60. The stock had a trading volume of 915,075 shares, compared to its average volume of 2,595,335. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 30.95, a P/E/G ratio of 3.19 and a beta of 1.37. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $111.87. The stock's 50 day moving average is $91.73 and its two-hundred day moving average is $86.04.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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 company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm earned $1.59 earnings per share. The business's revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Wynn Resorts's dividend payout ratio is currently 27.78%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.