International Assets Investment Management LLC Boosts Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

International Assets Investment Management LLC increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 4,067.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,668 shares of the casino operator’s stock after acquiring an additional 7,484 shares during the quarter. International Assets Investment Management LLC’s holdings in Wynn Resorts were worth $699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WYNN. Blue Trust Inc. increased its stake in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after buying an additional 270 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Wynn Resorts by 1,083.8% in the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after buying an additional 401 shares during the last quarter. CX Institutional bought a new stake in shares of Wynn Resorts in the fourth quarter worth $166,000. Finally, V Square Quantitative Management LLC acquired a new position in Wynn Resorts in the third quarter worth $192,000. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Trading Down 1.8 %

Shares of Wynn Resorts stock opened at $97.06 on Thursday. The company’s 50-day moving average price is $101.85 and its two-hundred day moving average price is $95.05. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $117.86. The stock has a market cap of $10.88 billion, a PE ratio of 16.23 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping the consensus estimate of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the business earned ($1.23) earnings per share. Wynn Resorts’s revenue for the quarter was up 83.1% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts, Limited will post 5.37 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s dividend payout ratio is presently 16.72%.

Analysts Set New Price Targets

A number of research firms have commented on WYNN. Bank Of America (Bofa) lifted their price objective 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. Barclays lifted their price objective on shares of Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company lifted their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Macquarie boosted their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.43.

Insider Buying and Selling at Wynn Resorts

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

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.