ProShare Advisors LLC Decreases Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

ProShare Advisors LLC trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 51.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,772 shares of the casino operator's stock after selling 30,146 shares during the period. ProShare Advisors LLC's holdings in Wynn Resorts were worth $2,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Tennessee Department of Treasury raised its stake in shares of Wynn Resorts by 73.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock worth $2,050,000 after buying an additional 10,041 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of 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 buying an additional 12,993 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $2,296,000. Brandywine Global Investment Management LLC bought a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $5,216,000. Finally, Alliancebernstein L.P. raised its stake 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 worth $10,577,000 after buying an additional 13,553 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Insider Transactions at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the stock in a transaction dated Monday, April 7th. The stock was purchased at an average price of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider now directly owns 13,000,000 shares in the company, valued at $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have bought 416,500 shares of company stock worth $29,254,547. Insiders own 0.52% of the company's stock.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded down $0.44 during midday trading on Friday, reaching $90.47. The stock had a trading volume of 1,335,753 shares, compared to its average volume of 2,537,441. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The company's 50 day moving average price is $82.09 and its 200 day moving average price is $85.74. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted 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 the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business's revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, May 16th. Wynn Resorts's payout ratio is currently 27.78%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays lowered their target price on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and upped their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.92.

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.