Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 30.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,071 shares of the casino operator’s stock after selling 21,621 shares during the period. Prudential Financial Inc.’s holdings in Wynn Resorts were worth $4,314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its holdings in Wynn Resorts by 49.2% in the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock valued at $1,120,000 after acquiring an additional 3,850 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Wynn Resorts by 5.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,724 shares of the casino operator’s stock valued at $5,918,000 after purchasing an additional 3,237 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Wynn Resorts by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock valued at $59,874,000 after purchasing an additional 10,465 shares in the last quarter. Public Sector Pension Investment Board increased its position in Wynn Resorts by 6.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,078 shares of the casino operator’s stock worth $295,000 after purchasing an additional 200 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Wynn Resorts by 41.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock worth $399,000 after purchasing an additional 1,215 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $83.50 on Tuesday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm’s 50-day simple moving average is $85.93 and its 200-day simple moving average is $89.36. The firm has a market cap of $8.86 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Stifel Nicolaus increased their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho boosted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Morgan Stanley dropped their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $119.58.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the acquisition, the insider now owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 38,700 shares of company stock worth $3,427,943 over the last 90 days. 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.