Fayez Sarofim & Co Has $2.65 Million Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Fayez Sarofim & Co cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,750 shares of the casino operator's stock after selling 6,000 shares during the period. Fayez Sarofim & Co's holdings in Wynn Resorts were worth $2,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Wynn Resorts by 190.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after acquiring an additional 12,993 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Wynn Resorts in the fourth quarter worth $5,216,000. Alliancebernstein L.P. increased its position in shares of Wynn Resorts by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock valued at $10,577,000 after buying an additional 13,553 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Wynn Resorts during the 4th quarter worth $75,872,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Wynn Resorts in the fourth quarter worth about $2,270,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Trading Up 0.6 %

Shares of WYNN traded up $0.53 during mid-day trading on Friday, reaching $82.11. The company's stock had a trading volume of 1,466,758 shares, compared to its average volume of 2,489,179. The stock has a market cap of $8.72 billion, a P/E ratio of 19.50, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81. The business has a 50-day simple moving average of $82.06 and a two-hundred day simple moving average of $86.88.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Wynn Resorts's dividend payout ratio (DPR) is currently 23.75%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of research reports. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. 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 research note on Friday, February 14th. Morgan Stanley cut their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Barclays cut their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and an average target price of $118.17.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tilman J. Fertitta bought 5,025 shares of the firm's stock in a transaction on Friday, March 21st. The shares were acquired at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 438,700 shares of company stock worth $31,300,943 over the last three months. Insiders own 0.52% of the company's stock.

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.