Ethic Inc. Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Ethic Inc. grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,955 shares of the casino operator’s stock after buying an additional 1,879 shares during the quarter. Ethic Inc.’s holdings in Wynn Resorts were worth $858,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. FORA Capital LLC purchased a new stake in Wynn Resorts during the fourth quarter valued at approximately $235,000. Deutsche Bank AG increased its position in shares of Wynn Resorts by 108.5% during the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator’s stock valued at $73,118,000 after purchasing an additional 441,558 shares during the last quarter. Eminence Capital LP purchased a new stake in Wynn Resorts during the 4th quarter valued at $13,555,000. Concentric Capital Strategies LP bought a new stake in Wynn Resorts in the fourth quarter worth $1,168,000. Finally, Cetera Investment Advisers boosted its stake in Wynn Resorts by 63.2% during the fourth quarter. Cetera Investment Advisers now owns 31,928 shares of the casino operator’s stock worth $2,751,000 after buying an additional 12,364 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a report on Wednesday, May 7th. Mizuho decreased their price objective on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, May 7th. Finally, Citigroup upgraded Wynn Resorts from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $112.92.

Wynn Resorts Stock Up 0.7%

Shares of NASDAQ WYNN opened at $97.49 on Thursday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The firm has a market cap of $10.19 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The business has a fifty day simple moving average of $81.09 and a two-hundred day simple moving average of $85.85.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The business’s revenue was down 8.7% compared to the same quarter last year. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts’s dividend payout ratio is currently 27.78%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price 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 approximately $3,152,095.10. This represents a 185.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta bought 5,025 shares of the stock in a transaction on Friday, March 21st. The shares were bought at an average price of $80.99 per share, with a total value of $406,974.75. Following the acquisition, the insider now owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 438,700 shares of company stock valued at $31,300,943. Company 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.