abrdn plc Purchases 17,875 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

abrdn plc boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 66.8% in the 4th quarter, HoldingsChannel reports. The firm owned 44,621 shares of the casino operator’s stock after buying an additional 17,875 shares during the period. abrdn plc’s holdings in Wynn Resorts were worth $4,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its holdings 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 during the last quarter. Invesco Ltd. lifted its position in Wynn Resorts by 20.7% during the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after buying an additional 248,820 shares in the last quarter. ING Groep NV grew its holdings in Wynn Resorts by 1,657.3% during the 3rd quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock worth $24,023,000 after acquiring an additional 245,165 shares during the last quarter. Barclays PLC increased its position in Wynn Resorts by 41.6% in the 3rd quarter. Barclays PLC now owns 544,831 shares of the casino operator’s stock valued at $50,345,000 after acquiring an additional 160,054 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Wynn Resorts in the third quarter worth about $13,610,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at Wynn Resorts

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

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $95.88 on Monday. The company has a 50 day moving average price of $101.48 and a two-hundred day moving average price of $95.09. The company has a market capitalization of $10.75 billion, a PE ratio of 16.03 and a beta of 1.93. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $117.86.

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 business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm’s quarterly revenue was up 83.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.23) EPS. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.37 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

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.