Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Korea Investment CORP

Korea Investment CORP cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,676 shares of the casino operator’s stock after selling 2,633 shares during the period. Korea Investment CORP’s holdings in Wynn Resorts were worth $4,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts in the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $36,000. Spire Wealth Management raised its holdings in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after purchasing an additional 122 shares during the period. 88.64% of the stock is owned by institutional investors.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the acquisition, the insider now directly owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 38,700 shares of company stock valued at $3,427,943. Insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 0.9 %

Shares of NASDAQ WYNN opened at $82.73 on Wednesday. The firm has a market capitalization of $8.78 billion, a PE ratio of 19.65, a PEG ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The business has a 50-day moving average price of $85.86 and a two-hundred day moving average price of $89.39.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 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 firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on WYNN. Barclays boosted their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Mizuho lifted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus 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.