Prudential PLC Acquires Shares of 5,097 Wynn Resorts, Limited (NASDAQ:WYNN)

Prudential PLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,097 shares of the casino operator's stock, valued at approximately $439,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Wynn Resorts during the 4th quarter worth approximately $117,352,000. Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $75,872,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Wynn Resorts by 23.5% in the 4th quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator's stock worth $59,064,000 after purchasing an additional 130,349 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Wynn Resorts by 25.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 525,282 shares of the casino operator's stock worth $45,258,000 after purchasing an additional 107,212 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Performance

WYNN traded up $0.45 during midday trading on Monday, reaching $73.64. 431,823 shares of the company were exchanged, compared to its average volume of 2,452,147. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81. The company's fifty day moving average price is $83.27 and its 200 day moving average price is $88.66. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.78 billion. As a group, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Wynn Resorts's dividend payout ratio is currently 23.75%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WYNN shares. Macquarie reissued an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Mizuho raised their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Barclays increased their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $119.58.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the company's stock in a transaction that occurred on 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 directly owns 34,195 shares of the company's stock, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 100,000 shares of Wynn Resorts stock in a transaction on Monday, April 7th. The shares were acquired at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the transaction, the insider now directly owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 438,700 shares of company stock valued at $31,300,943 over the last three months. Company insiders own 0.52% of the company's stock.

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.