Russell Investments Group Ltd. Reduces Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Russell Investments Group Ltd. reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,571 shares of the casino operator’s stock after selling 2,178 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Wynn Resorts worth $6,079,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Wynn Resorts by 90.6% in the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after buying an additional 54,995 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Wynn Resorts by 135.7% during the 3rd quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator’s stock worth $1,630,000 after purchasing an additional 9,788 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Wynn Resorts by 15.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,977 shares of the casino operator’s stock valued at $2,970,000 after buying an additional 4,212 shares in the last quarter. M&T Bank Corp increased its position in Wynn Resorts by 8.7% during the third quarter. M&T Bank Corp now owns 4,358 shares of the casino operator’s stock worth $418,000 after buying an additional 348 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after acquiring an additional 34,907 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Wynn Resorts news, major shareholder Tilman J. Fertitta bought 5,025 shares of the business’s stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now directly owns 10,905,025 shares of the company’s stock, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction on 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 purchase, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 438,700 shares of company stock worth $31,300,943 over the last ninety days. 0.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WYNN. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus lifted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Mizuho increased their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, Barclays upped their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Stock Performance

Shares of WYNN opened at $73.19 on Monday. The company has a market capitalization of $7.77 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.35 and a beta of 1.53. The stock has a 50-day moving average price of $83.27 and a 200 day moving average price of $88.66. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81.

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

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 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.