Impax Asset Management Group plc Acquires Shares of 7,606 Wynn Resorts, Limited (NASDAQ:WYNN)

Impax Asset Management Group plc acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, HoldingsChannel reports. The fund acquired 7,606 shares of the casino operator’s stock, valued at approximately $655,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IHT Wealth Management LLC boosted its position in shares of Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after purchasing an additional 112 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after purchasing an additional 119 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after acquiring an additional 122 shares during the period. Allworth Financial LP raised its holdings in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after acquiring an additional 133 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Wynn Resorts by 1.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock worth $844,000 after acquiring an additional 176 shares during the period. 88.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Macquarie reissued an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Wells Fargo & Company cut their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Stock Performance

Shares of WYNN opened at $91.03 on Wednesday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a market cap of $9.69 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. The firm’s 50-day simple moving average is $85.30 and its 200 day simple moving average is $87.64.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly 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 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 analyst estimates of $1.78 billion. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

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