Vanguard Group Inc. Has $882.90 Million Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Vanguard Group Inc. lessened its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,247,259 shares of the casino operator's stock after selling 789,151 shares during the period. Vanguard Group Inc. owned about 9.33% of Wynn Resorts worth $882,904,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Wynn Resorts during the fourth quarter worth about $75,872,000. Holocene Advisors LP lifted its position in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock valued at $72,672,000 after buying an additional 755,236 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $19,753,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Wynn Resorts by 466.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator's stock worth $20,112,000 after acquiring an additional 172,717 shares during the last quarter. Finally, Biglari Capital CORP. bought a new stake in Wynn Resorts in the 3rd quarter valued at $13,308,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WYNN. Barclays upped their price objective on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Mizuho lifted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Morgan Stanley cut their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Stifel Nicolaus lifted their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and boosted their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. 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 data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and an average price target of $119.58.

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Insider Activity

In other news, Director Philip G. Satre purchased 22,200 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares of the company's stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $84.93 per share, with a total value of $974,571.75. Following the completion of the transaction, the insider now owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. This represents a 0.09 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Price Performance

NASDAQ WYNN traded down $0.68 on Wednesday, reaching $82.05. The company had a trading volume of 1,542,493 shares, compared to its average volume of 2,347,411. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The business has a 50 day moving average of $85.86 and a two-hundred day moving average of $89.39.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $1.84 billion during 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%. As a group, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Wynn Resorts's dividend payout ratio (DPR) is currently 23.75%.

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.