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

Banque Pictet & Cie SA increased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,020 shares of the casino operator's stock after acquiring an additional 11,213 shares during the quarter. Banque Pictet & Cie SA owned about 0.09% of Wynn Resorts worth $8,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 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 acquiring an additional 144 shares during the period. ARGA Investment Management LP lifted its stake in Wynn Resorts by 86.9% in the first quarter. ARGA Investment Management LP now owns 33,369 shares of the casino operator's stock worth $2,786,000 after acquiring an additional 15,519 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Wynn Resorts by 199.8% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 44,801 shares of the casino operator's stock worth $3,741,000 after acquiring an additional 29,859 shares during the period. Pacific Heights Asset Management LLC lifted its position in Wynn Resorts by 10.0% during the first quarter. Pacific Heights Asset Management LLC now owns 77,000 shares of the casino operator's stock valued at $6,430,000 after buying an additional 7,000 shares during the period. Finally, IFM Investors Pty Ltd lifted its position in Wynn Resorts by 10.1% during the first quarter. IFM Investors Pty Ltd now owns 18,840 shares of the casino operator's stock valued at $1,573,000 after buying an additional 1,735 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Citigroup reissued a "neutral" rating and set a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research report on Wednesday. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group assumed coverage on Wynn Resorts in a research report on Monday, July 7th. They set a "buy" rating and a $122.00 price objective for the company. Finally, UBS Group reissued a "neutral" rating and set a $101.00 price objective (up previously from $83.00) on shares of Wynn Resorts in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.71.

Wynn Resorts Price Performance

NASDAQ WYNN traded down $0.76 during trading hours on Friday, hitting $111.17. The company's stock had a trading volume of 1,207,241 shares, compared to its average volume of 2,603,787. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $112.36. The company's 50 day simple moving average is $92.94 and its two-hundred day simple moving average is $86.34. The company has a market cap of $11.62 billion, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 3.22 and a beta of 1.37.

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 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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business posted $1.59 earnings per share. Wynn Resorts's quarterly revenue was down 8.7% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm 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. The ex-dividend date was Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.90%. Wynn Resorts's payout ratio is 27.78%.

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.