By otakuyassine3@gmail.com 
Prudential Financial Inc. decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 30.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,071 shares of the casino operator’s stock after selling 21,621 shares during the period. Prudential Financial Inc.’s holdings in Wynn Resorts were worth $4,314,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Wynn Resorts by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after acquiring an additional 34,907 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Wynn Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after purchasing an additional 5,032 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Wynn Resorts during the fourth quarter valued at about $75,872,000. Holocene Advisors LP lifted its holdings in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after purchasing an additional 755,236 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Wynn Resorts by 23.5% in the fourth quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock worth $59,064,000 after purchasing an additional 130,349 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.
Wynn Resorts Stock Up 1.4 %
NASDAQ:WYNN opened at $83.50 on Tuesday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company’s 50 day moving average is $85.93 and its 200-day moving average is $89.36. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.35 and a beta of 1.77.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last issued its quarterly 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. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.
Wynn Resorts Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.
Insider Activity
In related news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was bought at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the transaction, the insider now directly 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 disclosure for this purchase can be found here. Over the last three months, insiders acquired 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is owned by company insiders.
Analyst Ratings Changes
WYNN has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Barclays boosted their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Morgan Stanley dropped their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Mizuho lifted their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve 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 a consensus target price of $119.58.
Check Out Our Latest Stock Report on WYNN
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.
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