Corient Private Wealth LLC Has $454,000 Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Corient Private Wealth LLC lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 41.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,263 shares of the casino operator's stock after selling 3,677 shares during the quarter. Corient Private Wealth LLC's holdings in Wynn Resorts were worth $454,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WYNN. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts in the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at $31,000. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts in the 4th quarter worth $36,000. Spire Wealth Management increased its holdings in Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after purchasing an additional 234 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Macquarie restated an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Barclays boosted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Mizuho boosted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Finally, StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Two 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.58.

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Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta bought 5,025 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the acquisition, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Philip G. Satre purchased 22,200 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. The trade was 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 valued at $3,427,943 in the last three months. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Stock Up 1.4 %

Shares of NASDAQ:WYNN traded up $1.17 during mid-day trading on Monday, reaching $83.50. 2,114,997 shares of the stock were exchanged, compared to its average volume of 2,356,256. The stock's 50 day simple moving average is $85.96 and its 200-day simple moving average is $89.31. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The company has a market cap of $8.86 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping 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 firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.20%. Wynn Resorts's payout ratio is currently 23.75%.

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.