UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 616,748 shares of the casino operator's stock after selling 7,721 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.56% of Wynn Resorts worth $53,139,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WYNN. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new position in Wynn Resorts during the fourth quarter worth $36,000. Spire Wealth Management raised its stake in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after acquiring an additional 234 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Wynn Resorts during the fourth quarter worth $45,000. Finally, Venturi Wealth Management LLC raised its stake in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after acquiring an additional 122 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the business's stock in a transaction on Friday, March 21st. The shares were acquired at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the acquisition, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have bought 416,500 shares of company stock worth $29,254,547. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Trading Down 0.7%

WYNN traded down $0.65 on Friday, reaching $90.08. The stock had a trading volume of 874,838 shares, compared to its average volume of 2,531,858. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The firm has a 50-day moving average of $82.77 and a 200-day moving average of $85.91. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS 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 for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $1.59 EPS. The firm's revenue for the quarter was down 8.7% on a year-over-year basis. Sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays dropped their price objective on 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 upgraded Wynn Resorts from a "hold" rating to a "buy" rating and raised their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. 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 note on Wednesday, May 7th. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Macquarie reaffirmed an "outperform" rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Three equities 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $113.18.

Wynn Resorts 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.