Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,688 shares of the casino operator's stock after acquiring an additional 10,617 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Wynn Resorts worth $5,165,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Blue Trust Inc. boosted its position in Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator's stock valued at $25,000 after buying an additional 270 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator's stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Wynn Resorts by 1,083.8% during the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator's stock worth $40,000 after purchasing an additional 401 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $46,000. Finally, CX Institutional bought a new stake in Wynn Resorts in the fourth quarter valued at approximately $166,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares of the company's stock, valued at $33,253,632. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Craig Scott Billings sold 19,235 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares of the company's stock, valued at $33,253,632. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patricia Mulroy sold 960 shares of the business's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares in the company, valued at approximately $54,898.74. The disclosure for this sale can be found here. Insiders sold a total of 26,578 shares of company stock worth $2,850,282 over the last three months. Corporate insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. UBS Group lowered their target price on shares of Wynn Resorts from $117.00 to $108.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. Mizuho assumed coverage on shares of Wynn Resorts in a research report on Thursday, April 4th. They set a "buy" rating and a $131.00 price objective for the company. Finally, StockNews.com raised Wynn Resorts from a "hold" rating to a "buy" rating in a research note on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $121.43.

Wynn Resorts Price Performance

WYNN traded up $2.49 during trading on Monday, hitting $97.48. 1,694,632 shares of the stock traded hands, compared to its average volume of 1,802,725. Wynn Resorts, Limited has a twelve month low of $81.65 and a twelve month high of $117.86. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 15.88 and a beta of 1.93. The business has a 50 day moving average price of $102.28 and a 200 day moving average price of $94.94.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned ($1.23) earnings per share. The company's revenue was up 83.1% on a year-over-year basis. On average, equities research analysts predict that Wynn Resorts, Limited will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 annualized dividend and a yield of 1.03%. Wynn Resorts's dividend payout ratio is currently 16.72%.

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.