Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 41.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,331,402 shares of the casino operator’s stock after selling 1,640,444 shares during the period. Fisher Asset Management LLC’s holdings in Wynn Resorts were worth $200,874,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. U S Global Investors Inc. grew its stake in Wynn Resorts by 103.8% in the 4th quarter. U S Global Investors Inc. now owns 10,600 shares of the casino operator’s stock valued at $913,000 after acquiring an additional 5,400 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter worth about $1,752,000. New York Life Investment Management LLC boosted its stake in shares of Wynn Resorts by 4.3% during the 4th quarter. New York Life Investment Management LLC now owns 12,694 shares of the casino operator’s stock worth $1,094,000 after purchasing an additional 524 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Wynn Resorts by 23.5% during the 4th quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock worth $59,064,000 after purchasing an additional 130,349 shares during the last quarter. Finally, Prasad Wealth Partners LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter worth about $215,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their price target for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Mizuho raised their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Stifel Nicolaus raised their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, twelve 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 an average target price of $119.58.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $89.32 on Friday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The company’s 50 day moving average price is $85.35 and its 200 day moving average price is $87.86. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.35 and a beta of 1.76.

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

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $0.25 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.12%. Wynn Resorts’s payout ratio is 23.75%.

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.