DnB Asset Management AS Acquires 383 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

DnB Asset Management AS increased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,213 shares of the casino operator’s stock after purchasing an additional 383 shares during the period. DnB Asset Management AS’s holdings in Wynn Resorts were worth $1,655,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Wynn Resorts by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock valued at $59,874,000 after acquiring an additional 10,465 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Wynn Resorts by 6.9% in the third quarter. Public Sector Pension Investment Board now owns 3,078 shares of the casino operator’s stock valued at $295,000 after purchasing an additional 200 shares during the period. Captrust Financial Advisors lifted its stake in shares of Wynn Resorts by 41.2% in the third quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock worth $399,000 after buying an additional 1,215 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after buying an additional 755,236 shares during the period. Finally, Hilltop Holdings Inc. acquired a new position in Wynn Resorts in the 3rd quarter valued at $260,000. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WYNN. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Stifel Nicolaus increased their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. 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 report on Monday, February 24th. Finally, Barclays raised their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Stock Down 0.9 %

NASDAQ WYNN opened at $82.73 on Wednesday. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a market cap of $8.78 billion, a P/E ratio of 19.65, a PEG ratio of 2.35 and a beta of 1.77. The company’s 50-day simple moving average is $85.86 and its 200 day simple moving average is $89.39.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 71.17% and a net margin of 7.03%. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued 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 dividend yield of 1.21%. Wynn Resorts’s payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta bought 11,475 shares of Wynn Resorts stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $84.93 per share, with a total value of $974,571.75. Following the acquisition, the insider now directly owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. The trade was a 0.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired 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 directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is owned by insiders.

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.