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

Principal Financial Group Inc. cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109,197 shares of the casino operator’s stock after selling 2,911 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Wynn Resorts worth $9,949,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in shares of Wynn Resorts by 20,031.9% in the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock worth $46,807,000 after acquiring an additional 504,003 shares during the last quarter. Invesco Ltd. boosted its holdings in Wynn Resorts by 20.7% in the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after acquiring an additional 248,820 shares during the period. Barclays PLC grew its holdings in Wynn Resorts by 41.6% during the 3rd quarter. Barclays PLC now owns 544,831 shares of the casino operator’s stock valued at $50,345,000 after purchasing an additional 160,054 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Wynn Resorts in the third quarter worth about $13,610,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Wynn Resorts by 1,577.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 146,423 shares of the casino operator’s stock worth $13,531,000 after acquiring an additional 137,696 shares in the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WYNN. Macquarie lifted their price objective on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Barclays upped their price target on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Susquehanna raised their price objective on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. Morgan Stanley upped their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lifted their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.79.

Wynn Resorts Trading Up 0.6 %

WYNN opened at $94.62 on Monday. Wynn Resorts, Limited has a twelve month low of $81.65 and a twelve month high of $112.25. The stock has a market cap of $10.60 billion, a PE ratio of 12.96 and a beta of 1.91. The business’s 50 day moving average is $99.13 and its 200-day moving average is $95.97.

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

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a $0.25 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Wynn Resorts Company 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.