Royal Bank of Canada Decreases Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Royal Bank of Canada cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 218,394 shares of the casino operator's stock after selling 94,916 shares during the quarter. Royal Bank of Canada owned approximately 0.20% of Wynn Resorts worth $18,817,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock valued at $188,000 after purchasing an additional 119 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after buying an additional 122 shares in the last quarter. BOKF NA grew its holdings in shares of Wynn Resorts by 3.9% during the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator's stock valued at $289,000 after purchasing an additional 132 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Wynn Resorts by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock worth $2,681,000 after buying an additional 142 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in shares of Wynn Resorts by 5.0% during the fourth quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator's stock valued at $275,000 after purchasing an additional 152 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Down 0.7%

Shares of Wynn Resorts stock traded down $0.68 during trading on Friday, hitting $90.05. 604,633 shares of the stock traded hands, compared to its average volume of 2,530,826. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.35 and a beta of 1.33. The firm's fifty day moving average is $82.77 and its 200-day moving average is $85.91.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced 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). The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company's quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 EPS. On average, 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. Investors of record on Friday, May 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays decreased 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 report on Tuesday, April 22nd. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Macquarie restated an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus set a $113.00 price target on Wynn Resorts in a research note on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $113.18.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 11,475 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the purchase, the insider now directly owns 12,600,000 shares of the company's stock, valued at approximately $1,070,118,000. The trade was a 0.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 416,500 shares of company stock valued at $29,254,547. 0.52% of the stock is currently owned by company insiders.

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.