Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Diametric Capital LP

Diametric Capital LP trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 22.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 34,708 shares of the casino operator’s stock after selling 10,210 shares during the period. Wynn Resorts makes up approximately 2.0% of Diametric Capital LP’s holdings, making the stock its 4th biggest position. Diametric Capital LP’s holdings in Wynn Resorts were worth $2,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after purchasing an additional 485,204 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after buying an additional 34,907 shares during the period. Norges Bank purchased a new position in shares of Wynn Resorts in the fourth quarter worth approximately $117,352,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Wynn Resorts by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock valued at $82,062,000 after acquiring an additional 5,032 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $75,872,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WYNN shares. Barclays lifted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Morgan Stanley lowered their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Stifel Nicolaus increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Macquarie restated an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Insider Activity

In other news, major shareholder Tilman J. Fertitta bought 11,475 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. This represents a 0.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price 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 approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 38,700 shares of company stock valued at $3,427,943. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 1.4 %

NASDAQ WYNN opened at $83.50 on Tuesday. The stock has a market capitalization of $8.86 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The company has a 50 day moving average price of $85.93 and a two-hundred day moving average price of $89.36.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

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.