Royal London Asset Management Ltd. Buys 4,094 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Royal London Asset Management Ltd. grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 9.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 45,948 shares of the casino operator’s stock after acquiring an additional 4,094 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Wynn Resorts were worth $3,959,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Wynn Resorts in the fourth quarter valued at approximately $299,000. Cibc World Markets Corp grew its holdings in shares of Wynn Resorts by 13.7% in the 4th quarter. Cibc World Markets Corp now owns 14,906 shares of the casino operator’s stock valued at $1,284,000 after buying an additional 1,796 shares during the period. Picton Mahoney Asset Management increased its position in shares of Wynn Resorts by 66.0% in the 4th quarter. Picton Mahoney Asset Management now owns 98,596 shares of the casino operator’s stock valued at $8,493,000 after buying an additional 39,196 shares in the last quarter. Achmea Investment Management B.V. acquired a new stake in Wynn Resorts during the 4th quarter worth $757,000. Finally, Avantax Advisory Services Inc. grew its stake in Wynn Resorts by 9.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,426 shares of the casino operator’s stock valued at $640,000 after acquiring an additional 638 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WYNN. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Two equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Trading Up 2.7 %

Wynn Resorts stock opened at $84.87 on Tuesday. The stock has a 50-day moving average price of $85.78 and a two-hundred day moving average price of $89.06. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market capitalization of $9.01 billion, a PE ratio of 20.16, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (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 during the quarter, compared to analyst estimates of $1.78 billion. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. Wynn Resorts’s dividend payout ratio is 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.