Voya Investment Management LLC cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,962 shares of the casino operator's stock after selling 16,803 shares during the period. Voya Investment Management LLC owned about 0.05% of Wynn Resorts worth $4,822,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp lifted its stake in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock worth $188,000 after acquiring an additional 119 shares during the period. Venturi Wealth Management LLC lifted its position 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 purchasing an additional 122 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Wynn Resorts by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock valued at $2,681,000 after purchasing an additional 142 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Wynn Resorts by 5.0% during the fourth quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator's stock valued at $275,000 after purchasing an additional 152 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Wynn Resorts by 1.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator's stock valued at $844,000 after buying an additional 176 shares during the period. 88.64% of the stock is owned by institutional investors.
Insider Activity at Wynn Resorts
In other news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of the firm's stock in a transaction on 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 position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 438,700 shares of company stock worth $31,300,943. 0.52% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have issued reports on WYNN shares. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the company 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. Mizuho raised their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $118.17.
View Our Latest Report on WYNN
Wynn Resorts Stock Up 1.1 %
Shares of Wynn Resorts stock traded up $0.93 on Tuesday, reaching $83.91. 676,445 shares of the stock were exchanged, compared to its average volume of 2,475,974. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The business has a 50 day moving average price of $80.88 and a two-hundred day moving average price of $86.07. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.35 and a beta of 1.33.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.
Wynn Resorts Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is 23.75%.
Wynn Resorts Profile
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Free Report)
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.
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