Pictet Asset Management Holding SA Sells 3,044 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Pictet Asset Management Holding SA trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.0% in the 4th quarter, Holdings Channel reports. The fund owned 40,593 shares of the casino operator’s stock after selling 3,044 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Wynn Resorts were worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WYNN. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts during the third quarter valued at about $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts in the fourth quarter valued at about $36,000. Spire Wealth Management grew its position in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Down 3.8 %

Wynn Resorts stock opened at $70.09 on Friday. The business’s 50-day simple moving average is $85.25 and its 200 day simple moving average is $89.16. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 12-month low of $66.20 and a 12-month high of $108.50.

Wynn Resorts (NASDAQ:WYNN) last issued its 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. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.58.

Insider Buying and Selling at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $80.99 per share, with a total value of $406,974.75. Following the purchase, the insider now directly owns 10,905,025 shares in the company, valued at $883,197,974.75. The trade was a 0.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 38,700 shares of company stock worth $3,427,943. Insiders own 0.52% of the company’s stock.

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.