DnB Asset Management AS Has $1.66 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

DnB Asset Management AS boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,213 shares of the casino operator’s stock after buying an additional 383 shares during the quarter. DnB Asset Management AS’s holdings in Wynn Resorts were worth $1,655,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Wynn Resorts by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock worth $59,874,000 after acquiring an additional 10,465 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Wynn Resorts by 6.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,078 shares of the casino operator’s stock worth $295,000 after purchasing an additional 200 shares during the last quarter. Captrust Financial Advisors lifted its position in Wynn Resorts by 41.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock valued at $399,000 after purchasing an additional 1,215 shares during the period. Holocene Advisors LP boosted its stake in shares of Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the last quarter. Finally, Hilltop Holdings Inc. acquired a new stake in shares of Wynn Resorts during the 3rd quarter worth approximately $260,000. 88.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Wynn Resorts Stock Down 0.9 %

Shares of WYNN stock opened at $82.73 on Wednesday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a fifty day moving average of $85.86 and a 200-day moving average of $89.39. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of recent research reports. Mizuho raised their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Stifel Nicolaus raised their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts 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.