PKO Investment Management Joint Stock Co Lowers Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

PKO Investment Management Joint Stock Co reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 27.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,000 shares of the casino operator's stock after selling 3,000 shares during the period. PKO Investment Management Joint Stock Co's holdings in Wynn Resorts were worth $668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Tennessee Department of Treasury raised its stake in 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 valued at $2,050,000 after acquiring an additional 10,041 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in Wynn Resorts by 190.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after acquiring an additional 12,993 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Wynn Resorts in the 4th quarter valued at about $2,296,000. Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts in the 4th quarter valued at about $5,216,000. Finally, Alliancebernstein L.P. increased its position in shares of Wynn Resorts by 12.4% during the fourth 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 currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the company's stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the purchase, the insider now owns 10,905,025 shares in the company, valued at $883,197,974.75. This trade represents a 0.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the sale, the director now directly 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. Insiders bought a total of 416,500 shares of company stock valued at $29,254,547 over the last quarter. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Trading Up 0.3%

Shares of NASDAQ WYNN traded up $0.25 during midday trading on Wednesday, hitting $87.53. 306,977 shares of the company's stock were exchanged, compared to its average volume of 2,581,323. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.50 and a beta of 1.37. The business's fifty day moving average price is $85.11 and its two-hundred day moving average price is $85.47. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The firm's quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.59 EPS. Equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, May 16th. Wynn Resorts's dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

Several brokerages have recently weighed in on WYNN. Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Stifel Nicolaus set a $113.00 price target on Wynn Resorts in a research report on Wednesday, May 7th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, May 7th. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus target price of $113.18.

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.