OVERSEA CHINESE BANKING Corp Ltd Makes New $299,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,368 shares of the casino operator's stock, valued at approximately $299,000.

A number of other institutional investors have also recently made changes to their positions in the business. Fisher Asset Management LLC raised its stake in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after buying an additional 1,644,965 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Wynn Resorts by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator's stock valued at $229,945,000 after purchasing an additional 34,907 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Wynn Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator's stock worth $82,062,000 after purchasing an additional 5,032 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Wynn Resorts in the 4th quarter worth approximately $75,872,000. Finally, Holocene Advisors LP grew its position in Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock worth $72,672,000 after purchasing an additional 755,236 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

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Analysts Set New Price Targets

WYNN has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and increased their price objective for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Barclays lifted their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, Stifel Nicolaus increased their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $119.58.

Insider Activity

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the firm's stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now directly owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This trade represents a 0.05 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip G. Satre bought 22,200 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 38,700 shares of company stock worth $3,427,943 in the last quarter. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Price Performance

WYNN stock traded up $1.16 during midday trading on Tuesday, hitting $86.03. 4,496,357 shares of the stock traded hands, compared to its average volume of 2,289,260. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The stock's fifty day simple moving average is $85.78 and its 200-day simple moving average is $89.06. The firm has a market cap of $9.13 billion, a P/E ratio of 20.43, a PEG ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Monday, February 24th. Wynn Resorts's payout ratio is 23.75%.

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.