Mercer Global Advisors Inc. ADV purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,828 shares of the casino operator’s stock, valued at approximately $481,000.
Several other large investors have also modified their holdings of the company. Dupont Capital Management Corp purchased a new position in Wynn Resorts in the fourth quarter worth $25,000. UMB Bank n.a. increased its position in shares of Wynn Resorts by 200.0% in the fourth quarter. UMB Bank n.a. now owns 300 shares of the casino operator’s stock valued at $25,000 after buying an additional 200 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Wynn Resorts in the fourth quarter valued at $36,000. Penserra Capital Management LLC increased its position in shares of Wynn Resorts by 62.6% in the third quarter. Penserra Capital Management LLC now owns 504 shares of the casino operator’s stock valued at $31,000 after buying an additional 194 shares in the last quarter. Finally, Mach 1 Financial Group LLC acquired a new stake in shares of Wynn Resorts during the third quarter valued at $34,000. 70.95% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Wynn Resorts
In other news, CFO Julie Cameron-Doe sold 4,000 shares of Wynn Resorts stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total transaction of $432,320.00. Following the transaction, the chief financial officer now owns 65,970 shares in the company, valued at $7,130,037.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Wynn Resorts news, CEO Craig Scott Billings sold 10,901 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $103.26, for a total value of $1,125,637.26. Following the transaction, the chief executive officer now owns 255,781 shares in the company, valued at $26,411,946.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julie Cameron-Doe sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $108.08, for a total value of $432,320.00. Following the completion of the transaction, the chief financial officer now owns 65,970 shares in the company, valued at approximately $7,130,037.60. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Wynn Resorts Stock Down 1.5 %
Wynn Resorts (NASDAQ:WYNN – Get Rating) last announced its earnings results on Tuesday, May 9th. The casino operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.47. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm earned ($1.21) EPS. The firm’s revenue was up 49.3% on a year-over-year basis. On average, analysts predict that Wynn Resorts, Limited will post 1.43 EPS for the current fiscal year.
Wynn Resorts Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, May 22nd.
Analyst Ratings Changes
A number of analysts have issued reports on WYNN shares. Barclays raised Wynn Resorts from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $120.00 to $135.00 in a research note on Wednesday, May 17th. Wells Fargo & Company raised their price target on Wynn Resorts from $128.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, April 13th. StockNews.com started coverage on Wynn Resorts in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet upgraded Wynn Resorts from a “d+” rating to a “c-” rating in a report on Tuesday, April 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Wynn Resorts from $134.00 to $140.00 in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.18.
About Wynn Resorts
Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.
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