Ilmarinen Mutual Pension Insurance Co Takes Position in Wynn Resorts, Limited $WYNN

Key Points

• Ilmarinen Mutual Pension Insurance Co purchased a new stake in Wynn Resorts, buying 15,000 shares valued at approximately $1,253,000.
• Research analysts have generally rated Wynn Resorts positively, with fourteen giving it a “Buy” rating and the stock's average price target set at $123.47.
• Wynn Resorts recently declared a quarterly dividend of $0.25 per share, which represents an annual yield of 0.8% and a payout ratio of 30.03%.

Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the casino operator's stock, valued at approximately $1,253,000.

Other large investors have also recently bought and sold shares of the company. American Assets Inc. increased its holdings in shares of Wynn Resorts by 52.2% in the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock valued at $879,000 after acquiring an additional 3,500 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Wynn Resorts by 63.2% in the fourth quarter. Cetera Investment Advisers now owns 31,928 shares of the casino operator's stock valued at $2,751,000 after purchasing an additional 12,364 shares in the last quarter. Ethic Inc. increased its stake in Wynn Resorts by 23.3% in the fourth quarter. Ethic Inc. now owns 9,955 shares of the casino operator's stock valued at $858,000 after purchasing an additional 1,879 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in Wynn Resorts during the fourth quarter worth approximately $672,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wynn Resorts by 5.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,207 shares of the casino operator's stock worth $621,000 after buying an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on WYNN shares. Jefferies Financial Group increased their target price on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Monday, August 11th. The Goldman Sachs Group started coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They issued a "buy" rating and a $122.00 price objective for the company. Macquarie lifted their target price on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price for the company in a report on Wednesday, September 3rd. Finally, Citigroup reissued a "neutral" rating and issued a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus price target of $123.47.

Wynn Resorts Stock Up 1.2%

NASDAQ WYNN opened at $122.90 on Thursday. The firm has a market cap of $12.78 billion, a P/E ratio of 36.91, a P/E/G ratio of 6.25 and a beta of 1.37. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $128.53. The business's 50-day moving average price is $112.96 and its 200 day moving average price is $94.93.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The firm's revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio (DPR) is currently 30.03%.

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.

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