Price T Rowe Associates Inc. MD Sells 333,018 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 28.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 approximately 0.74% of Wynn Resorts worth $70,466,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Wynn Resorts by 190.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock worth $1,706,000 after acquiring an additional 12,993 shares in the last quarter. State of Tennessee Department of Treasury grew its stake in shares of Wynn Resorts by 73.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after buying an additional 10,041 shares during the period. Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts in the 4th quarter valued at about $5,216,000. Alliancebernstein L.P. raised its stake in Wynn Resorts by 12.4% during the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after buying an additional 13,553 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Wynn Resorts in the fourth quarter worth approximately $75,872,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Trading Down 0.3 %

Shares of WYNN stock traded down $0.27 during trading hours on Thursday, hitting $80.04. 1,771,744 shares of the company were exchanged, compared to its average volume of 2,480,877. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The firm has a fifty day simple moving average of $81.21 and a 200 day simple moving average of $86.48. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 2.35 and a beta of 1.53.

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

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Wynn Resorts's dividend payout ratio is presently 23.75%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley dropped their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. 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 research report on Friday, February 14th. Finally, Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $118.17.

Insider Transactions at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 5,025 shares of Wynn Resorts stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the purchase, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Philip G. Satre bought 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly 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. Insiders acquired 438,700 shares of company stock worth $31,300,943 over the last quarter. Corporate insiders own 0.52% of the company's stock.

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.