Wynn Resorts, Limited (NASDAQ:WYNN) Position Cut by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 43.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,298 shares of the casino operator’s stock after selling 998 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Wynn Resorts were worth $118,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WYNN. American Century Companies Inc. lifted its stake in Wynn Resorts by 12.0% in the first quarter. American Century Companies Inc. now owns 9,786 shares of the casino operator’s stock valued at $780,000 after buying an additional 1,048 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Wynn Resorts by 43.5% during the first quarter. MetLife Investment Management LLC now owns 33,369 shares of the casino operator’s stock valued at $2,661,000 after purchasing an additional 10,117 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Wynn Resorts by 147.2% during the first quarter. Panagora Asset Management Inc. now owns 12,728 shares of the casino operator’s stock valued at $1,015,000 after purchasing an additional 7,580 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Wynn Resorts by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,083 shares of the casino operator’s stock valued at $1,123,000 after purchasing an additional 872 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Wynn Resorts by 0.4% during the first quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock valued at $545,957,000 after purchasing an additional 30,460 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of research analyst reports. Barclays raised their price target on Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company raised their price target on Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Morgan Stanley raised their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Mizuho started coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target on the stock. Finally, Macquarie lifted their target price on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.43.

Wynn Resorts Trading Down 1.2 %

Shares of WYNN opened at $94.99 on Friday. The business’s 50-day moving average price is $102.28 and its 200 day moving average price is $94.86. The stock has a market capitalization of $10.65 billion, a P/E ratio of 15.88 and a beta of 1.93. Wynn Resorts, Limited has a 1-year low of $81.65 and a 1-year high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. Wynn Resorts’s revenue was up 83.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.23) EPS. On average, research 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 declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. Wynn Resorts’s dividend payout ratio is currently 16.72%.

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.