Mackenzie Financial Corp Trims Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Mackenzie Financial Corp cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 69.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,380 shares of the casino operator's stock after selling 9,835 shares during the quarter. Mackenzie Financial Corp's holdings in Wynn Resorts were worth $399,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator's stock worth $2,542,000 after buying an additional 109 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in shares of Wynn Resorts by 4.3% during the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 3,630 shares of the casino operator's stock valued at $323,000 after purchasing an additional 150 shares during the period. Mystic Asset Management Inc. grew its stake in shares of Wynn Resorts by 1.6% during the 3rd quarter. Mystic Asset Management Inc. now owns 11,131 shares of the casino operator's stock valued at $1,029,000 after purchasing an additional 175 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Wynn Resorts by 2.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,934 shares of the casino operator's stock valued at $733,000 after purchasing an additional 198 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Wynn Resorts by 0.9% during the 4th quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator's stock valued at $2,568,000 after buying an additional 241 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Craig Scott Billings sold 19,235 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the transaction, the chief executive officer now owns 307,904 shares of the company's stock, valued at approximately $33,253,632. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now owns 522 shares of the company's stock, valued at approximately $54,898.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the company'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 completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Stock Performance

Shares of WYNN traded down $0.72 during mid-day trading on Friday, hitting $95.88. 1,419,971 shares of the stock were exchanged, compared to its average volume of 1,452,594. The company has a market cap of $10.75 billion, a PE ratio of 16.03 and a beta of 1.93. Wynn Resorts, Limited has a 52-week low of $81.65 and a 52-week high of $117.86. The firm has a 50-day moving average of $101.48 and a two-hundred day moving average of $95.09.

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

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts's dividend payout ratio is currently 16.72%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WYNN. Barclays lifted their price objective on Wynn Resorts from $123.00 to $124.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. UBS Group lowered their price objective on Wynn Resorts from $117.00 to $108.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 6th. StockNews.com raised Wynn Resorts from a "hold" rating to a "buy" rating in a research report on Thursday, April 4th. Bank Of America (Bofa) boosted their price target on Wynn Resorts from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 17th. Finally, Susquehanna boosted their price target on Wynn Resorts from $105.00 to $115.00 and gave the stock a "positive" rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $121.43.

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.