Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,071 shares of the casino operator's stock after selling 21,621 shares during the quarter. Prudential Financial Inc.'s holdings in Wynn Resorts were worth $4,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Wynn Resorts during the 4th quarter valued at approximately $75,872,000. Holocene Advisors LP raised its position in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock valued at $72,672,000 after purchasing an additional 755,236 shares during the period. Weiss Asset Management LP purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at $19,753,000. Jacobs Levy Equity Management Inc. boosted its holdings in Wynn Resorts by 466.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator's stock worth $20,112,000 after buying an additional 172,717 shares during the period. Finally, Biglari Capital CORP. purchased a new stake in Wynn Resorts in the 3rd quarter worth $13,308,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

NASDAQ WYNN traded down $1.19 on Wednesday, hitting $81.54. The stock had a trading volume of 2,526,586 shares, compared to its average volume of 2,353,639. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The business's fifty day moving average price is $85.79 and its 200 day moving average price is $89.34. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's payout ratio is currently 23.75%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WYNN shares. Barclays raised their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and increased their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Macquarie reissued an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and an average target price of $119.58.

Insider Transactions at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares in the company, valued at $883,197,974.75. The trade was a 0.05 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip G. Satre acquired 22,200 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly 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 disclosure for this purchase can be found here. Insiders acquired a total of 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 company insiders.

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.