Securian Asset Management Inc. Lowers Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Securian Asset Management Inc. decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,010 shares of the casino operator’s stock after selling 939 shares during the quarter. Securian Asset Management Inc.’s holdings in Wynn Resorts were worth $548,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB lifted its position in Wynn Resorts by 130.9% in the 4th quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator’s stock worth $13,101,000 after buying an additional 81,338 shares during the last quarter. Jump Financial LLC grew its holdings in Wynn Resorts by 28.1% in the 4th quarter. Jump Financial LLC now owns 56,755 shares of the casino operator’s stock worth $5,171,000 after acquiring an additional 12,461 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Wynn Resorts by 51.8% in the fourth quarter. Van ECK Associates Corp now owns 55,787 shares of the casino operator’s stock valued at $5,083,000 after acquiring an additional 19,031 shares during the period. Synergy Asset Management LLC bought a new position in shares of Wynn Resorts during the fourth quarter valued at about $1,150,000. Finally, Keybank National Association OH boosted its holdings in shares of Wynn Resorts by 8.1% during the third quarter. Keybank National Association OH now owns 249,716 shares of the casino operator’s stock worth $23,076,000 after purchasing an additional 18,802 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on WYNN shares. Susquehanna upped their price target on Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Macquarie lifted their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Barclays lifted their price target on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.62.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $95.48 on Thursday. The stock’s fifty day moving average is $99.35 and its 200 day moving average is $95.95. The stock has a market cap of $10.70 billion, a P/E ratio of 13.08 and a beta of 1.91. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. Analysts predict that Wynn Resorts, Limited will post 5.58 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

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.