Rhumbline Advisers Decreases Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Rhumbline Advisers lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 157,593 shares of the casino operator’s stock after selling 5,155 shares during the quarter. Rhumbline Advisers’ holdings in Wynn Resorts were worth $13,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vontobel Holding Ltd. lifted its holdings in shares of Wynn Resorts by 11.8% during the 4th quarter. Vontobel Holding Ltd. now owns 9,744 shares of the casino operator’s stock valued at $840,000 after purchasing an additional 1,026 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Wynn Resorts by 1.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 36,309 shares of the casino operator’s stock valued at $3,220,000 after purchasing an additional 569 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Wynn Resorts by 70.7% during the 4th quarter. Van ECK Associates Corp now owns 72,242 shares of the casino operator’s stock valued at $6,224,000 after purchasing an additional 29,931 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Wynn Resorts by 1.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock valued at $844,000 after purchasing an additional 176 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wynn Resorts by 36.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,337 shares of the casino operator’s stock valued at $915,000 after acquiring an additional 2,754 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of several research reports. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Macquarie reissued an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, 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. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $120.58.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Stock Down 2.9 %

NASDAQ:WYNN opened at $90.76 on Friday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market capitalization of $9.66 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. The stock’s 50-day moving average price is $85.31 and its 200-day moving average price is $87.34.

Wynn Resorts (NASDAQ:WYNN) last posted its 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. 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 for the quarter, compared to analysts’ expectations of $1.78 billion. Sell-side analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

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.