Toronto Dominion Bank Reduces Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Toronto Dominion Bank trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 29.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,656 shares of the casino operator's stock after selling 16,022 shares during the period. Toronto Dominion Bank's holdings in Wynn Resorts were worth $3,244,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Wynn Resorts in the 4th quarter valued at approximately $117,352,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $101,375,000. Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $75,872,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after purchasing an additional 485,204 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Wynn Resorts by 108.5% during the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after purchasing an additional 441,558 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director now owns 3,066 shares of the company's stock, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of Wynn Resorts stock in a transaction dated Monday, March 24th. The shares were bought at an average cost of $84.93 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders have purchased a total of 416,500 shares of company stock worth $29,254,547 over the last 90 days. Corporate insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent research reports. Wall Street Zen lowered Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note 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, Barclays cut their price objective 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. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $113.18.

Wynn Resorts Stock Performance

Shares of WYNN stock traded up $0.18 during mid-day trading on Tuesday, hitting $87.98. The company's stock had a trading volume of 2,100,564 shares, compared to its average volume of 2,564,437. The company's fifty day simple moving average is $82.89 and its 200-day simple moving average is $85.88. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The company has a market cap of $9.20 billion, a PE ratio of 20.91, a P/E/G ratio of 2.35 and a beta of 1.33.

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). Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business posted $1.59 EPS. Wynn Resorts's revenue was down 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

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

About Wynn Resorts

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.