Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 61,724 shares of the casino operator’s stock after purchasing an additional 3,237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wynn Resorts were worth $5,918,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WYNN. Bridgewater Associates LP increased its position in Wynn Resorts by 11.3% in the third quarter. Bridgewater Associates LP now owns 119,706 shares of the casino operator’s stock worth $11,477,000 after buying an additional 12,111 shares in the last quarter. Baldwin Investment Management LLC bought a new stake in Wynn Resorts during the 3rd quarter worth approximately $398,000. Horizon Kinetics Asset Management LLC purchased a new position in Wynn Resorts during the third quarter valued at approximately $250,000. Fisher Asset Management LLC increased its stake in shares of Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Wynn Resorts by 13.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,058 shares of the casino operator’s stock valued at $1,156,000 after purchasing an additional 1,416 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Up 3.0 %

NASDAQ WYNN opened at $94.38 on Monday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.46 and a beta of 1.80. The company has a fifty day moving average of $94.90 and a two-hundred day moving average of $87.91.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Wynn Resorts, Limited will post 4.78 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Wynn Resorts’s payout ratio is 12.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WYNN. Susquehanna upped their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Barclays decreased their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.71.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by corporate 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.