New York Life Investment Management LLC Has $1.22 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

New York Life Investment Management LLC cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,351 shares of the casino operator’s stock after selling 674 shares during the quarter. New York Life Investment Management LLC’s holdings in Wynn Resorts were worth $1,216,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WYNN. Stratos Wealth Partners LTD. acquired a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $210,000. Bank of New York Mellon Corp increased its holdings 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 worth $90,291,000 after acquiring an additional 128,094 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 worth $4,257,000 after acquiring an additional 8,220 shares during the last quarter. IFM Investors Pty Ltd increased its holdings 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 worth $1,759,000 after acquiring an additional 600 shares during the last quarter. Finally, ING Groep NV grew its holdings 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 buying an additional 245,165 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts 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 sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts 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 sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the sale, the chief financial officer now directly owns 78,150 shares in the company, valued at $8,226,850.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Stock Down 0.7 %

NASDAQ:WYNN opened at $97.23 on Wednesday. The stock’s 50-day simple moving average is $100.38 and its 200 day simple moving average is $95.38. The firm has a market capitalization of $10.90 billion, a PE ratio of 16.26 and a beta of 1.91. 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 quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 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 30.9% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, analysts anticipate that Wynn Resorts, Limited will post 5.37 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Wynn Resorts’s payout ratio is 16.72%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WYNN shares. Mizuho started coverage on Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective on the stock. UBS Group lowered their price objective on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Wells Fargo & Company increased their price objective on Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Bank Of America (Bofa) increased 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, Susquehanna increased their price objective on Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $121.43.

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.