Price T Rowe Associates Inc. MD Lowers Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Price T Rowe Associates Inc. MD lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 28.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 817,841 shares of the casino operator's stock after selling 333,018 shares during the period. Price T Rowe Associates Inc. MD owned 0.74% of Wynn Resorts worth $70,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in WYNN. Norges Bank acquired a new position in Wynn Resorts during the 4th quarter valued at approximately $117,352,000. Raymond James Financial Inc. acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $75,872,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after acquiring an additional 485,204 shares during the last quarter. Long Pond Capital LP lifted its position in Wynn Resorts by 89.5% during the 4th quarter. Long Pond Capital LP now owns 761,897 shares of the casino operator's stock worth $65,645,000 after acquiring an additional 359,793 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Wynn Resorts by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after purchasing an additional 228,000 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN traded up $2.45 during midday trading on Friday, hitting $82.49. The company's stock had a trading volume of 1,597,195 shares, compared to its average volume of 2,484,419. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81. The company has a market cap of $8.76 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The business's 50 day simple moving average is $81.04 and its 200 day simple moving average is $86.19.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio is currently 23.75%.

Insider Buying and Selling

In other Wynn Resorts news, major shareholder Tilman J. Fertitta bought 300,000 shares of the business's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $70.37 per share, with a total value of $21,111,000.00. Following the completion of the purchase, the insider now directly owns 12,900,000 shares in the company, valued at $907,773,000. The trade was a 2.38 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip G. Satre purchased 22,200 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 438,700 shares of company stock worth $31,300,943. Insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Macquarie reissued an "outperform" rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Argus lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Morgan Stanley cut their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Stifel Nicolaus increased their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus price target of $118.17.

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.