Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 41.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,263 shares of the casino operator’s stock after selling 3,677 shares during the quarter. Corient Private Wealth LLC’s holdings in Wynn Resorts were worth $454,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Wynn Resorts during the 4th quarter worth approximately $75,872,000. Holocene Advisors LP boosted its holdings in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after acquiring an additional 755,236 shares during the period. Weiss Asset Management LP purchased a new position in shares of Wynn Resorts during the third quarter worth approximately $19,753,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Wynn Resorts by 466.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator’s stock valued at $20,112,000 after acquiring an additional 172,717 shares during the period. Finally, Biglari Capital CORP. purchased a new stake in Wynn Resorts in the 3rd quarter valued at $13,308,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta acquired 5,025 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now directly owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 38,700 shares of company stock valued at $3,427,943. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 4.4 %

Shares of WYNN stock opened at $82.33 on Friday. The firm has a fifty day simple moving average of $85.96 and a 200-day simple moving average of $89.22. The company has a market capitalization of $8.74 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly 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 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%. Equities research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Analyst Ratings Changes

A number of research analysts have commented on WYNN shares. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Morgan Stanley dropped their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Barclays boosted their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.