Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,332 shares of the casino operator's stock after selling 36,280 shares during the quarter. Pinebridge Investments L.P.'s holdings in Wynn Resorts were worth $4,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WYNN. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Wynn Resorts by 190.9% in 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 purchasing an additional 12,993 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts in the 4th quarter worth approximately $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 valued at $10,577,000 after buying an additional 13,553 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Wynn Resorts during the fourth quarter valued at $75,872,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Wynn Resorts during the fourth quarter valued at $2,270,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

Wynn Resorts stock traded down $0.18 during trading hours on Thursday, hitting $80.13. 532,164 shares of the stock traded hands, compared to its average volume of 2,473,552. The firm's 50 day moving average price is $81.41 and its 200-day moving average price is $86.65. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.78 billion. Research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Insider Buying and Selling

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 100,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the purchase, the insider now owns 13,000,000 shares in the company, valued at $879,060,000. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on WYNN. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Morgan Stanley dropped 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, Macquarie reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $118.17.

Wynn Resorts Profile

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.