Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 382.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,798 shares of the casino operator's stock after purchasing an additional 9,351 shares during the quarter. Retirement Planning Co of New England Inc.'s holdings in Wynn Resorts were worth $985,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Wynn Resorts during the fourth quarter worth approximately $117,352,000. Jericho Capital Asset Management L.P. bought a new stake in Wynn Resorts during the fourth quarter worth approximately $101,375,000. DAVENPORT & Co LLC bought a new stake in Wynn Resorts during the first quarter worth approximately $49,476,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after acquiring an additional 485,204 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Wynn Resorts by 108.5% during the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock valued at $73,118,000 after buying an additional 441,558 shares during the period. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Performance

NASDAQ:WYNN traded down $0.41 during trading hours on Thursday, reaching $109.44. The company's stock had a trading volume of 1,124,766 shares, compared to its average volume of 2,592,113. The stock has a 50 day moving average price of $95.02 and a two-hundred day moving average price of $86.97. The company has a market capitalization of $11.44 billion, a P/E ratio of 30.40, a price-to-earnings-growth ratio of 3.02 and a beta of 1.37. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $112.36.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business's revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 earnings per share. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Friday, May 16th. Wynn Resorts's payout ratio is presently 27.78%.

Insider Activity

In other news, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on WYNN shares. Mizuho dropped their target price on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Citigroup restated a "neutral" rating and set a $114.00 target price (up previously from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Wednesday, May 7th. Barclays dropped their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group started 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. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of "Moderate Buy" and an average price target of $112.71.

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.