Xponance Inc. Has $1.19 Million Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Xponance Inc. decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 56.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,759 shares of the casino operator’s stock after selling 17,866 shares during the period. Xponance Inc.’s holdings in Wynn Resorts were worth $1,185,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WYNN. Wellington Management Group LLP boosted its stake in Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock valued at $11,094,000 after acquiring an additional 54,995 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Wynn Resorts during the fourth quarter valued at approximately $75,872,000. Empirical Asset Management LLC purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $903,000. Cookson Peirce & Co. Inc. boosted its stake in shares of Wynn Resorts by 79.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator’s stock valued at $2,915,000 after purchasing an additional 15,017 shares in the last quarter. Finally, ARGA Investment Management LP bought a new position in shares of Wynn Resorts during the third quarter valued at about $2,174,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WYNN shares. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Morgan Stanley decreased their target price 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. Stifel Nicolaus lifted their price target 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. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Mizuho increased their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $82.63 on Monday. The stock has a market capitalization of $8.77 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.35 and a beta of 1.77. The company’s 50-day simple moving average is $85.71 and its 200-day simple moving average is $89.01. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Insiders Place Their Bets

In related news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost 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 of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

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.