Principal Financial Group Inc. Decreases Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Principal Financial Group Inc. decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 101,858 shares of the casino operator's stock after selling 3,626 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Wynn Resorts worth $8,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. lifted its holdings in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after purchasing an additional 409 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts in the fourth quarter worth $45,000. Garde Capital Inc. purchased a new stake in Wynn Resorts during the 1st quarter valued at about $73,000. Finally, Mather Group LLC. raised its position in Wynn Resorts by 32.7% in the 1st quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock worth $75,000 after buying an additional 221 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction on Thursday, May 29th. The shares were 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 approximately $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Wynn Resorts Stock Down 0.0%

WYNN stock traded down $0.01 during midday trading on Tuesday, reaching $111.00. The stock had a trading volume of 1,681,609 shares, compared to its average volume of 2,595,945. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $112.36. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 3.21 and a beta of 1.37. The business has a fifty day simple moving average of $92.94 and a two-hundred day simple moving average of $86.32.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share 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 for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the business earned $1.59 earnings per share. Wynn Resorts's revenue was down 8.7% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have commented on WYNN shares. Barclays decreased their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group began coverage on Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price target for the company. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $113.00 target price on Wynn Resorts in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $112.71.

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.