PKO Investment Management Joint Stock Co Buys Shares of 11,000 Wynn Resorts, Limited (NASDAQ:WYNN)

PKO Investment Management Joint Stock Co bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,000 shares of the casino operator’s stock, valued at approximately $948,000.

Other large investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of Wynn Resorts during the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Wynn Resorts during the 4th quarter worth $36,000. Spire Wealth Management grew its holdings in shares of Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares during the period. Canada Post Corp Registered Pension Plan purchased a new position in shares of Wynn Resorts during the 4th quarter worth $45,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 15.0% during the 4th 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 currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on WYNN. Barclays lowered their price target on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. 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. Wall Street Zen lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Argus lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.18.

Wynn Resorts Price Performance

WYNN stock opened at $90.94 on Thursday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81. The firm has a market capitalization of $9.51 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.35 and a beta of 1.33. The business’s 50-day moving average is $82.65 and its two-hundred day moving average is $85.89.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results 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 negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business posted $1.59 EPS. Wynn Resorts’s revenue was down 8.7% on a year-over-year basis. On average, analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 27.78%.

Insider Transactions at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the purchase, the insider now directly owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. This represents a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 416,500 shares of company stock valued at $29,254,547. 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.