Vanguard Group Inc. Sells 789,151 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Vanguard Group Inc. decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,247,259 shares of the casino operator’s stock after selling 789,151 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Wynn Resorts worth $882,904,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC grew its holdings in Wynn Resorts by 1.7% during the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after acquiring an additional 112 shares in the last quarter. Fifth Third Bancorp increased its holdings in Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after buying an additional 119 shares during the period. Venturi Wealth Management LLC raised its stake in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Wynn Resorts by 5.0% during the fourth quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator’s stock worth $275,000 after buying an additional 152 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in 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 acquiring an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 4.4 %

Wynn Resorts stock opened at $82.33 on Friday. The stock has a 50-day moving average price of $85.96 and a 200 day moving average price of $89.22. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

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

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Insider Transactions at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $84.93 per share, with a total value of $974,571.75. Following the completion of the acquisition, the insider now owns 12,600,000 shares of the company’s stock, valued at approximately $1,070,118,000. This represents a 0.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. Insiders have purchased 38,700 shares of company stock worth $3,427,943 over the last quarter. 0.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

WYNN has been the subject of a number of analyst reports. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Barclays raised their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Mizuho raised their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Finally, Morgan Stanley reduced their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.