Banque Pictet & Cie SA Sells 10,364 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Banque Pictet & Cie SA cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 10.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,807 shares of the casino operator's stock after selling 10,364 shares during the quarter. Banque Pictet & Cie SA owned about 0.08% of Wynn Resorts worth $7,652,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WYNN. IHT Wealth Management LLC increased its position in shares of Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator's stock valued at $654,000 after buying an additional 112 shares during the period. Fifth Third Bancorp grew its holdings in shares of Wynn Resorts by 5.8% during the 4th quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock worth $188,000 after acquiring an additional 119 shares during the period. Allworth Financial LP raised its position in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock worth $86,000 after acquiring an additional 133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Wynn Resorts by 1.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator's stock valued at $844,000 after purchasing an additional 176 shares during the period. Finally, Prospera Financial Services Inc boosted its position in shares of Wynn Resorts by 4.1% during the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator's stock valued at $443,000 after purchasing an additional 181 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $2.39 during trading on Tuesday, hitting $91.21. The stock had a trading volume of 5,185,612 shares, compared to its average volume of 2,918,731. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 2.32 and a beta of 1.76. The stock has a 50 day simple moving average of $85.45 and a 200 day simple moving average of $87.06. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. On average, sell-side analysts predict that Wynn Resorts, Limited will post 4.69 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. Wynn Resorts's payout ratio is 12.33%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Macquarie restated an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday. Two investment 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.58.

About Wynn Resorts

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.