Forsta AP Fonden Increases Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Forsta AP Fonden raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 609.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,000 shares of the casino operator's stock after purchasing an additional 37,800 shares during the quarter. Forsta AP Fonden's holdings in Wynn Resorts were worth $4,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Wynn Resorts by 63.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,583 shares of the casino operator's stock valued at $740,000 after purchasing an additional 2,954 shares during the period. Allworth Financial LP grew its stake in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock valued at $86,000 after purchasing an additional 133 shares during the period. International Assets Investment Management LLC grew its stake in Wynn Resorts by 24,083.8% in the 3rd quarter. International Assets Investment Management LLC now owns 68,682 shares of the casino operator's stock valued at $6,585,000 after purchasing an additional 68,398 shares during the period. Lecap Asset Management Ltd. grew its stake in Wynn Resorts by 17.0% in the 3rd quarter. Lecap Asset Management Ltd. now owns 10,632 shares of the casino operator's stock valued at $1,019,000 after purchasing an additional 1,541 shares during the period. Finally, Lazari Capital Management Inc. grew its stake in Wynn Resorts by 182.8% in the 3rd quarter. Lazari Capital Management Inc. now owns 36,187 shares of the casino operator's stock valued at $3,470,000 after purchasing an additional 23,391 shares during the period. Institutional investors own 68.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WYNN shares. Macquarie reiterated an "outperform" rating and set a $126.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 7th. Jefferies Financial Group cut their price target on Wynn Resorts from $111.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, July 11th. Morgan Stanley increased their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Susquehanna increased their price target on Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus cut their price target on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a research note on Friday, September 13th. Four 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $116.21.

Wynn Resorts Stock Performance

NASDAQ WYNN traded down $0.51 during trading hours on Wednesday, hitting $98.49. The company had a trading volume of 1,309,264 shares, compared to its average volume of 2,117,294. The firm has a 50 day simple moving average of $89.07 and a 200 day simple moving average of $88.86. 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 $11.04 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.54 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released 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). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the business earned $0.91 EPS. The business's revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that Wynn Resorts, Limited will post 5.42 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Wynn Resorts's payout ratio is currently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares of the company's stock, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.52% of the company's stock.

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.