PNC Financial Services Group Inc. Buys 336 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

PNC Financial Services Group Inc. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,192 shares of the casino operator’s stock after purchasing an additional 336 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wynn Resorts were worth $929,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Wynn Resorts in the fourth quarter valued at approximately $157,305,000. Eminence Capital LP bought a new position in Wynn Resorts in the fourth quarter valued at approximately $15,089,000. Honeycomb Asset Management LP bought a new position in Wynn Resorts in the fourth quarter valued at approximately $13,666,000. Bamco Inc. NY boosted its stake in Wynn Resorts by 25.7% in the third quarter. Bamco Inc. NY now owns 644,474 shares of the casino operator’s stock valued at $59,556,000 after acquiring an additional 131,937 shares during the last quarter. Finally, TORQ CAPITAL MANAGEMENT HK Ltd boosted its stake in Wynn Resorts by 108.1% in the fourth quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 220,600 shares of the casino operator’s stock valued at $20,099,000 after acquiring an additional 114,600 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Wells Fargo & Company increased their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. increased their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, May 23rd. Finally, Mizuho assumed coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.31.

Wynn Resorts Stock Down 0.9 %

Shares of NASDAQ:WYNN opened at $89.10 on Tuesday. Wynn Resorts, Limited has a 12 month low of $81.65 and a 12 month high of $112.25. The company’s fifty day simple moving average is $94.46 and its 200 day simple moving average is $96.84. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 12.21 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. Research analysts expect that Wynn Resorts, Limited will post 5.58 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.12%. Wynn Resorts’s payout ratio is currently 13.70%.

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.