Wellington Management Group LLP Sells 63,967 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Wellington Management Group LLP decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,740 shares of the casino operator's stock after selling 63,967 shares during the quarter. Wellington Management Group LLP's holdings in Wynn Resorts were worth $4,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of WYNN. SBI Securities Co. Ltd. purchased a new position in shares of Wynn Resorts in the fourth quarter valued at $36,000. Spire Wealth Management lifted its position in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after purchasing an additional 234 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Wynn Resorts in the 4th quarter worth $45,000. Venturi Wealth Management LLC increased its holdings in shares of Wynn Resorts by 15.0% in 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 during the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new stake in shares of Wynn Resorts during the 4th quarter valued at about $115,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several recent research reports. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Macquarie reiterated an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Wednesday, May 7th. Morgan Stanley lowered their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Finally, Mizuho dropped their price objective on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $113.18.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $84.93 per share, with a total value of $974,571.75. Following the transaction, the insider now owns 12,600,000 shares of the company's stock, valued at approximately $1,070,118,000. This trade represents a 0.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred 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 now owns 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 disclosure for this sale can be found here. In the last 90 days, insiders have bought 416,500 shares of company stock valued at $29,254,547. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Stock Performance

WYNN stock traded up $0.06 during midday trading on Friday, reaching $83.30. The company's stock had a trading volume of 3,151,222 shares, compared to its average volume of 2,585,102. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.35 and a beta of 1.33. The stock has a fifty day simple moving average of $82.99 and a two-hundred day simple moving average of $85.84.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The firm's revenue for the quarter was down 8.7% on a year-over-year basis. As a group, analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, May 16th. Wynn Resorts's dividend payout ratio is 27.78%.

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.