Impax Asset Management Group plc Invests $655,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Impax Asset Management Group plc purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,606 shares of the casino operator’s stock, valued at approximately $655,000.

A number of other hedge funds have also modified their holdings of the stock. IHT Wealth Management LLC boosted its holdings 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 during the period. Fifth Third Bancorp boosted its holdings 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 during the period. Venturi Wealth Management LLC boosted 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 valued at $81,000 after acquiring an additional 122 shares during the period. Allworth Financial LP boosted its holdings in Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Wynn Resorts by 1.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock valued at $844,000 after acquiring an additional 176 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Macquarie restated an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Barclays increased their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company reduced their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two equities research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Stock Up 1.0 %

NASDAQ:WYNN opened at $91.03 on Wednesday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market capitalization of $9.69 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. The firm has a 50-day moving average price of $85.30 and a 200 day moving average price of $87.64.

Wynn Resorts (NASDAQ:WYNN) last posted 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 company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, with a total value 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 represents a 185.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

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.