Wynn Resorts, Limited (NASDAQ:WYNN) Holdings Increased by Legacy Trust

Legacy Trust grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,219 shares of the casino operator’s stock after buying an additional 755 shares during the quarter. Legacy Trust’s holdings in Wynn Resorts were worth $3,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WYNN. Van ECK Associates Corp raised its position in shares of Wynn Resorts by 70.7% during the 4th quarter. Van ECK Associates Corp now owns 72,242 shares of the casino operator’s stock worth $6,224,000 after buying an additional 29,931 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Wynn Resorts by 1.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 36,309 shares of the casino operator’s stock worth $3,220,000 after purchasing an additional 569 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Wynn Resorts by 11.8% in the 4th quarter. Vontobel Holding Ltd. now owns 9,744 shares of the casino operator’s stock worth $840,000 after purchasing an additional 1,026 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Wynn Resorts by 6.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 35,932 shares of the casino operator’s stock worth $3,096,000 after purchasing an additional 2,040 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in shares of Wynn Resorts by 8.1% in the 4th quarter. Sanctuary Advisors LLC now owns 4,201 shares of the casino operator’s stock worth $376,000 after purchasing an additional 315 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director now owns 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were acquired at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares in the company, valued at $1,070,118,000. The trade was a 0.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 416,500 shares of company stock valued at $29,254,547. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Mizuho dropped their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a report on Wednesday, May 7th. Barclays dropped their target price on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Argus downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.18.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $87.07 on Friday. The firm’s 50 day simple moving average is $84.07 and its 200-day simple moving average is $85.63. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The company has a market cap of $9.10 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The business’s revenue for the quarter 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 fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, May 16th. Wynn Resorts’s payout ratio is presently 27.78%.

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.