US Bancorp DE Sells 1,659 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

US Bancorp DE lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,166 shares of the casino operator’s stock after selling 1,659 shares during the quarter. US Bancorp DE’s holdings in Wynn Resorts were worth $790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Wynn Resorts during the third quarter worth $31,000. Spire Wealth Management grew its stake in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after purchasing an additional 122 shares during the period. Finally, Covestor Ltd grew its stake in shares of Wynn Resorts by 207.4% during the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock worth $135,000 after purchasing an additional 950 shares during the period. Institutional investors own 88.64% of the company’s stock.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Price Performance

WYNN opened at $88.42 on Tuesday. The company has a fifty day moving average price of $85.41 and a 200-day moving average price of $88.47. The firm has a market capitalization of $9.41 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given 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 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Macquarie reiterated an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Mizuho boosted their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

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.