Geode Capital Management LLC Acquires 34,907 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Geode Capital Management LLC lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,406,260 shares of the casino operator's stock after purchasing an additional 34,907 shares during the quarter. Geode Capital Management LLC owned 2.19% of Wynn Resorts worth $229,945,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in Wynn Resorts in the 2nd quarter valued at about $25,000. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock worth $49,000 after acquiring an additional 467 shares in the last quarter. Allworth Financial LP increased its stake in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock valued at $86,000 after acquiring an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator's stock valued at $99,000 after purchasing an additional 900 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Wynn Resorts by 207.4% during the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator's stock worth $135,000 after purchasing an additional 950 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group raised Wynn Resorts to a "hold" rating in a report on Friday, August 23rd. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Tuesday, September 17th. Wells Fargo & Company dropped 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. Barclays lowered their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and an average price target of $115.71.

Wynn Resorts Stock Up 1.1 %

Shares of NASDAQ WYNN traded up $1.06 during trading on Friday, reaching $94.53. The company had a trading volume of 1,778,040 shares, compared to its average volume of 1,885,364. The stock has a market cap of $10.38 billion, a P/E ratio of 11.66, a PEG ratio of 3.46 and a beta of 1.78. The company's fifty day moving average price is $94.99 and its 200-day moving average price is $87.81. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. The business's revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.79 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts's dividend payout ratio is presently 12.33%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at $447,894.97. The trade was a 31.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by company insiders.

Wynn Resorts 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.