Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Appaloosa LP

Appaloosa LP lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 37.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 500,000 shares of the casino operator’s stock after selling 300,000 shares during the period. Appaloosa LP owned 0.46% of Wynn Resorts worth $43,080,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Fisher Asset Management LLC boosted its stake in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after buying an additional 1,644,965 shares during the last quarter. Geode Capital Management LLC boosted its stake in Wynn Resorts by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after buying an additional 34,907 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Wynn Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after buying an additional 5,032 shares during the last quarter. Regal Partners Ltd boosted its stake in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after buying an additional 174,005 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Wynn Resorts in the 4th quarter worth about $75,872,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price 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 of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

WYNN has been the topic of a number of research analyst reports. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday. Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Stifel Nicolaus raised their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Barclays raised their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Trading Down 2.0 %

Shares of WYNN opened at $85.67 on Thursday. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.35 and a beta of 1.77. The stock has a 50 day moving average of $85.42 and a 200-day moving average of $88.52. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Wynn Resorts’s payout ratio is 23.75%.

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.