Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,828 shares of the casino operator’s stock after selling 788 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wynn Resorts were worth $1,078,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Invesco Ltd. lifted its position in shares of Wynn Resorts by 20.7% during the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock valued at $133,908,000 after buying an additional 248,820 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Wynn Resorts by 15.1% during the third quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock valued at $90,291,000 after purchasing an additional 128,094 shares in the last quarter. Bamco Inc. NY grew its position in shares of Wynn Resorts by 25.7% in the third quarter. Bamco Inc. NY now owns 644,474 shares of the casino operator’s stock valued at $59,556,000 after purchasing an additional 131,937 shares during the period. Barclays PLC increased its stake in shares of Wynn Resorts by 41.6% during the third quarter. Barclays PLC now owns 544,831 shares of the casino operator’s stock worth $50,345,000 after purchasing an additional 160,054 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Wynn Resorts by 20,031.9% during the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock worth $46,807,000 after purchasing an additional 504,003 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of several research analyst reports. Mizuho initiated coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective on the stock. Macquarie lifted their price target on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Wells Fargo & Company increased their price objective on Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, Bank Of America (Bofa) upped their target price on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.43.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $97.48 on Tuesday. The company’s 50-day moving average is $102.12 and its two-hundred day moving average is $94.99. Wynn Resorts, Limited has a 1-year low of $81.65 and a 1-year high of $117.86. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 16.30 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm’s quarterly revenue was up 83.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.23) earnings per share. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were issued a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a yield of 1.03%. Wynn Resorts’s dividend payout ratio (DPR) is currently 16.72%.

Insider Buying and Selling at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the transaction, the chief financial officer now owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Insiders have sold 26,578 shares of company stock valued at $2,850,282 over the last 90 days. 0.52% of the stock is owned by insiders.

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.