Northwest & Ethical Investments L.P. Acquires 950 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Northwest & Ethical Investments L.P. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 63.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,450 shares of the casino operator’s stock after purchasing an additional 950 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Wynn Resorts were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WYNN. Fisher Asset Management LLC grew its position in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after buying an additional 1,644,965 shares during the period. Geode Capital Management LLC increased its stake in Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after purchasing an additional 34,907 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Wynn Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after purchasing an additional 5,032 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $75,872,000. Finally, Holocene Advisors LP increased its position in shares of Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after buying an additional 755,236 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, with a total value 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. The trade was a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WYNN. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Barclays upped their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Stifel Nicolaus raised their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Stock Down 0.5 %

Shares of Wynn Resorts stock opened at $82.63 on Friday. The stock has a market cap of $8.79 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The business’s 50 day moving average is $85.71 and its 200-day moving average is $88.92.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s payout ratio is currently 23.75%.

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.