Vontobel Holding Ltd. Lowers Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Vontobel Holding Ltd. lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 41.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,700 shares of the casino operator's stock after selling 4,044 shares during the period. Vontobel Holding Ltd.'s holdings in Wynn Resorts were worth $476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its stake in shares of Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after buying an additional 175 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after acquiring an additional 409 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $36,000. Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts in the 4th quarter worth approximately $45,000. Finally, Garde Capital Inc. acquired a new position in Wynn Resorts during the 1st quarter worth $73,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN traded down $0.76 during midday trading on Friday, reaching $111.17. The company's stock had a trading volume of 1,207,241 shares, compared to its average volume of 2,596,895. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $112.36. The firm has a 50 day moving average price of $92.37 and a 200-day moving average price of $86.20. The stock has a market capitalization of $11.62 billion, a P/E ratio of 30.88, a PEG ratio of 3.18 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The company's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.59 EPS. On average, equities analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.

Insider Activity at Wynn Resorts

In other Wynn Resorts 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 transaction of $208,375.44. Following the sale, the director owned 3,066 shares in the company, 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 SEC, which is available at this link. Company insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on WYNN. Citigroup reiterated a "neutral" rating and issued a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Mizuho reduced their price objective 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. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group initiated coverage on Wynn Resorts in a research report on Monday. They set 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $112.71.

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.