Banque Pictet & Cie SA Sells 10,364 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Banque Pictet & Cie SA lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 88,807 shares of the casino operator’s stock after selling 10,364 shares during the period. Banque Pictet & Cie SA’s holdings in Wynn Resorts were worth $7,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. Spire Wealth Management raised its position in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after acquiring an additional 234 shares during the period. Blue Trust Inc. raised its position in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares during the period. Finally, Allworth Financial LP boosted its stake in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after acquiring an additional 133 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WYNN. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Barclays decreased their target price 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. Morgan Stanley raised their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Macquarie reiterated an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Wynn Resorts Stock Up 2.9 %

Shares of WYNN opened at $80.61 on Friday. The company has a 50 day moving average of $85.77 and a 200-day moving average of $86.78. The stock has a market capitalization of $8.85 billion, a P/E ratio of 9.94, a P/E/G ratio of 2.32 and a beta of 1.76. 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, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 4.69 earnings per share for the current fiscal year.

Wynn Resorts Company 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.