Wynn Resorts, Limited (NASDAQ:WYNN) Stock Position Decreased by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 41.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,263 shares of the casino operator’s stock after selling 3,677 shares during the period. Corient Private Wealth LLC’s holdings in Wynn Resorts were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Wynn Resorts during the fourth quarter valued at about $75,872,000. Holocene Advisors LP raised its holdings in shares of Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after acquiring an additional 755,236 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Wynn Resorts during the third quarter valued at approximately $19,753,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Wynn Resorts by 466.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator’s stock valued at $20,112,000 after acquiring an additional 172,717 shares in the last quarter. Finally, Biglari Capital CORP. acquired a new position in Wynn Resorts in the 3rd quarter worth approximately $13,308,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

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

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.78 billion. Sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

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

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were acquired 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tilman J. Fertitta acquired 5,025 shares of Wynn Resorts stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the acquisition, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 38,700 shares of company stock valued at $3,427,943 in the last three months. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and raised their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley reduced their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho increased their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target 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.