Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 13.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 119,697 shares of the casino operator’s stock after selling 17,909 shares during the quarter. Nordea Investment Management AB’s holdings in Wynn Resorts were worth $10,345,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WYNN. Fisher Asset Management LLC raised its position in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares during the period. Holocene Advisors LP raised its holdings in Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after buying an additional 755,236 shares during the period. Eagle Asset Management Inc. purchased a new stake in Wynn Resorts during the third quarter valued at about $58,486,000. Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of Wynn Resorts in the third quarter worth approximately $19,753,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Performance

Shares of WYNN opened at $81.17 on Thursday. The firm has a market cap of $8.91 billion, a PE ratio of 10.01, a PEG ratio of 3.46 and a beta of 1.77. The firm’s 50 day moving average price is $90.08 and its 200 day moving average price is $87.26. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Analysts Set New Price Targets

Several brokerages recently commented on WYNN. Stifel Nicolaus reduced their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Morgan Stanley increased their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays reduced their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group lowered their target price on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.36.

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.