Swiss National Bank Lowers Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Swiss National Bank lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,600 shares of the casino operator’s stock after selling 8,800 shares during the period. Swiss National Bank owned about 0.28% of Wynn Resorts worth $29,210,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WYNN. Stratos Wealth Partners LTD. purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at approximately $210,000. Bank of New York Mellon Corp lifted its position in shares of Wynn Resorts by 15.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock valued at $90,291,000 after buying an additional 128,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Wynn Resorts by 21.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,071 shares of the casino operator’s stock valued at $4,257,000 after buying an additional 8,220 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Wynn Resorts by 3.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 19,036 shares of the casino operator’s stock valued at $1,759,000 after buying an additional 600 shares in the last quarter. Finally, ING Groep NV raised its stake in Wynn Resorts by 1,657.3% in the 3rd quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock valued at $24,023,000 after purchasing an additional 245,165 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insider Activity at Wynn Resorts

In other news, CFO Julie Cameron-Doe sold 6,383 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the sale, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now directly owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the transaction, the chief financial officer now owns 78,150 shares in the company, valued at $8,226,850.50. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 1.5 %

Wynn Resorts stock opened at $95.75 on Thursday. The firm has a market capitalization of $10.73 billion, a P/E ratio of 16.01 and a beta of 1.91. The stock’s fifty day simple moving average is $100.24 and its 200-day simple moving average is $95.39. Wynn Resorts, Limited has a twelve month low of $81.65 and a twelve month high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $0.29 EPS. Wynn Resorts’s revenue for the quarter was up 30.9% on a year-over-year basis. Sell-side analysts predict that Wynn Resorts, Limited will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Wynn Resorts’s dividend payout ratio is presently 16.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Macquarie increased their target price on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Bank Of America (Bofa) lifted their price objective on Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, Stifel Nicolaus raised their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.64.

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.