Wynn Resorts, Limited (NASDAQ:WYNN) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,740 shares of the casino operator's stock after selling 63,967 shares during the quarter. Wellington Management Group LLP's holdings in Wynn Resorts were worth $4,458,000 at the end of the most recent quarter.

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

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Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WYNN shares. Morgan Stanley dropped their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Barclays increased their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Macquarie reiterated an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus price target of $119.58.

Wynn Resorts Stock Up 1.8 %

Shares of NASDAQ:WYNN traded up $1.36 during trading on Tuesday, hitting $74.90. 2,024,067 shares of the company traded hands, compared to its average volume of 2,458,821. The business's fifty day moving average is $83.10 and its 200-day moving average is $88.49. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.78 billion. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Wynn Resorts's dividend payout ratio (DPR) is presently 23.75%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 100,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the acquisition, the insider now directly owns 13,000,000 shares in the company, valued at approximately $879,060,000. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 438,700 shares of company stock valued at $31,300,943 in the last ninety days. Company 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.