Wynn Resorts, Limited (NASDAQ:WYNN) Stock Position Reduced by Pinebridge Investments L.P.

Pinebridge Investments L.P. decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 42.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,332 shares of the casino operator’s stock after selling 36,280 shares during the quarter. Pinebridge Investments L.P.’s holdings in Wynn Resorts were worth $4,250,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts during the 3rd quarter worth $31,000. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts during the 4th quarter valued at $36,000. Spire Wealth Management lifted its stake in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts in the fourth quarter worth $45,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley reduced their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Mizuho boosted their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Barclays lowered their price target on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.17.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $82.11 on Friday. The firm’s 50-day moving average is $82.06 and its 200-day moving average is $87.12. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results 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 negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Equities analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.22%. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Insiders Place Their Bets

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the stock in a transaction dated Friday, March 21st. The shares were bought at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the purchase, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This trade represents a 0.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, 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 acquired 438,700 shares of company stock worth $31,300,943 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.

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.