Charles Schwab Investment Management Inc. Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Charles Schwab Investment Management Inc. boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 0.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 952,442 shares of the casino operator’s stock after purchasing an additional 5,032 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Wynn Resorts were worth $82,062,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. IHT Wealth Management LLC grew its stake in Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after acquiring an additional 112 shares in the last quarter. Fifth Third Bancorp grew its stake in Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after acquiring an additional 119 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after acquiring an additional 122 shares in the last quarter. Metis Global Partners LLC grew its stake in Wynn Resorts by 5.0% during the fourth quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator’s stock valued at $275,000 after acquiring an additional 152 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Wynn Resorts by 1.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock worth $844,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.3 %

NASDAQ:WYNN opened at $88.42 on Tuesday. The company has a fifty day moving average of $85.41 and a 200 day moving average of $88.47. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a market capitalization of $9.41 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors 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 dividend on an annualized basis and a yield of 1.13%. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WYNN shares. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Barclays boosted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Morgan Stanley cut their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.58.

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.