Xponance Inc. Sells 17,866 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Xponance Inc. cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 56.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,759 shares of the casino operator's stock after selling 17,866 shares during the period. Xponance Inc.'s holdings in Wynn Resorts were worth $1,185,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Wynn Resorts in the third quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts in the 4th quarter valued at about $36,000. Spire Wealth Management lifted its stake in Wynn Resorts by 116.4% in the 4th 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 grew its holdings in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after purchasing an additional 122 shares during the period. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Morgan Stanley reduced their price target 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 increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and boosted their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $119.58.

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Insider Activity

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, for a total transaction 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 trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of Wynn Resorts stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares of the company's stock, valued at $1,070,118,000. The trade was a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 38,700 shares of company stock worth $3,427,943. Insiders own 0.52% of the company's stock.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded up $2.00 during trading hours on Tuesday, hitting $86.87. 3,189,372 shares of the stock were exchanged, compared to its average volume of 2,289,260. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market cap of $9.22 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The company's fifty day simple moving average is $85.78 and its two-hundred day simple moving average is $89.06.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during 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 expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Wynn Resorts's dividend payout ratio (DPR) is presently 23.75%.

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.