OVERSEA CHINESE BANKING Corp Ltd Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,368 shares of the casino operator’s stock, valued at approximately $299,000.

Several other large investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in 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 in the last quarter. Geode Capital Management LLC raised its holdings in Wynn Resorts by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after purchasing an additional 34,907 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Wynn Resorts by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after purchasing an additional 5,032 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Wynn Resorts during the fourth quarter worth about $75,872,000. Finally, Holocene Advisors LP raised its holdings in Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after purchasing an additional 755,236 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on WYNN. Macquarie reissued an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Mizuho increased their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Barclays increased their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Morgan Stanley dropped their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Insider Buying and Selling

In other news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by company insiders.

Wynn Resorts Price Performance

Shares of WYNN opened at $83.07 on Friday. The firm has a 50 day simple moving average of $85.68 and a 200-day simple moving average of $88.79. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. On average, equities analysts expect 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. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. Wynn Resorts’s dividend payout ratio (DPR) is currently 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.