Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA boosted its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 about 0.09% of Wynn Resorts worth $8,352,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury increased its stake in shares of Wynn Resorts by 73.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock worth $2,050,000 after acquiring an additional 10,041 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in Wynn Resorts by 190.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock worth $1,706,000 after purchasing an additional 12,993 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Wynn Resorts during the fourth quarter worth about $2,296,000. Brandywine Global Investment Management LLC acquired a new position in Wynn Resorts in the 4th quarter valued at about $5,216,000. Finally, Alliancebernstein L.P. grew its stake in shares of Wynn Resorts by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock valued at $10,577,000 after buying an additional 13,553 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

WYNN stock traded down $0.76 during mid-day trading on Friday, reaching $111.17. The company had a trading volume of 1,207,241 shares, compared to its average volume of 2,596,895. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $112.36. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 3.18 and a beta of 1.37. The firm has a fifty day simple moving average of $92.37 and a 200 day simple moving average of $86.20.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data 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 net margin of 6.17% and a negative return on equity of 62.13%. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The company's revenue was down 8.7% compared to the same quarter last year. As a group, analysts predict 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. Shareholders of record on Friday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $114.00 price objective (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday. Barclays decreased their target price on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group assumed coverage on shares of Wynn Resorts in a research report on Monday. They set a "buy" rating and a $122.00 price target for the company. Finally, Stifel Nicolaus set a $113.00 price objective on shares of Wynn Resorts in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $112.71.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director owned 3,066 shares in the company, valued at $282,439.92. This trade represents a 42.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.