Banque Pictet & Cie SA Purchases 6,669 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Banque Pictet & Cie SA boosted its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 86,587 shares of the casino operator's stock after acquiring an additional 6,669 shares during the period. Banque Pictet & Cie SA owned 0.08% of Wynn Resorts worth $7,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Wynn Resorts by 5.6% in the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator's stock valued at $14,214,000 after acquiring an additional 7,380 shares during the period. Concord Investment Counsel Inc. bought a new stake in shares of Wynn Resorts during the first quarter valued at about $2,461,000. CIBC Private Wealth Group LLC bought a new stake in shares of Wynn Resorts during the fourth quarter valued at about $1,376,000. UniSuper Management Pty Ltd increased its position in shares of Wynn Resorts by 540.6% during the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator's stock valued at $1,041,000 after buying an additional 8,590 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock valued at $1,127,456,000 after buying an additional 166,594 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Up 0.4 %

Shares of NASDAQ:WYNN traded up $0.28 during trading on Friday, reaching $77.37. 1,479,914 shares of the company traded hands, compared to its average volume of 2,783,727. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.72 and a beta of 1.82. The business's fifty day moving average is $82.43 and its 200-day moving average is $93.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.59 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.29%. Wynn Resorts's payout ratio is currently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now owns 9,226 shares of the company's stock, valued at approximately $870,842.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WYNN has been the topic of several analyst reports. Argus upgraded Wynn Resorts from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Wynn Resorts from $131.00 to $122.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Seaport Res Ptn upgraded shares of Wynn Resorts from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 30th. Wells Fargo & Company decreased their price objective on shares of Wynn Resorts from $126.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley decreased their price objective on shares of Wynn Resorts from $115.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $116.73.

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.

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