Nordea Investment Management AB Reduces Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Nordea Investment Management AB decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,697 shares of the casino operator's stock after selling 17,909 shares during the period. Nordea Investment Management AB owned 0.11% of Wynn Resorts worth $10,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Wynn Resorts in the third quarter valued at approximately $31,000. Blue Trust Inc. raised its position in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock valued at $49,000 after purchasing an additional 467 shares during the last quarter. Allworth Financial LP boosted its stake in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock worth $86,000 after purchasing an additional 133 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in Wynn Resorts by 703.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator's stock worth $99,000 after purchasing an additional 900 shares during the last quarter. Finally, Covestor Ltd increased its stake in Wynn Resorts by 207.4% in the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator's stock valued at $135,000 after purchasing an additional 950 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Finally, Susquehanna upped their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a research report on Friday, October 11th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and a consensus target price of $116.36.

Wynn Resorts Trading Down 1.6 %

Shares of NASDAQ:WYNN traded down $1.28 during trading on Thursday, hitting $81.17. 1,861,319 shares of the stock were exchanged, compared to its average volume of 2,358,055. The company has a market cap of $8.91 billion, a PE ratio of 10.01, a P/E/G ratio of 3.46 and a beta of 1.77. The company has a fifty day moving average price of $89.78 and a two-hundred day moving average price of $87.21. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Equities research analysts anticipate that Wynn Resorts, Limited will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, November 15th. Wynn Resorts's payout ratio is currently 12.33%.

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.