M&T Bank Corp Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

M&T Bank Corp lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,997 shares of the casino operator’s stock after buying an additional 639 shares during the quarter. M&T Bank Corp’s holdings in Wynn Resorts were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Wynn Resorts by 1.9% in the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock worth $10,361,000 after acquiring an additional 2,001 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Wynn Resorts by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock worth $18,098,000 after acquiring an additional 7,850 shares during the last quarter. Regal Partners Ltd raised its holdings in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Wynn Resorts by 7.7% in the third quarter. CIBC Asset Management Inc now owns 14,252 shares of the casino operator’s stock worth $1,366,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Wynn Resorts by 49.2% in the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after acquiring an additional 3,850 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by company insiders.

Wynn Resorts Trading Down 2.8 %

WYNN stock opened at $83.23 on Friday. The stock has a 50-day moving average price of $85.42 and a two-hundred day moving average price of $88.52. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The company has a market cap of $8.86 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of analyst reports. 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. Stifel Nicolaus boosted their price target 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 lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday. Mizuho upped their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded 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 note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Company 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.