Banque Pictet & Cie SA Sells 10,364 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Banque Pictet & Cie SA cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,807 shares of the casino operator’s stock after selling 10,364 shares during the period. Banque Pictet & Cie SA owned about 0.08% of Wynn Resorts worth $7,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fisher Asset Management LLC increased its holdings in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares during the period. Geode Capital Management LLC boosted its position in shares of Wynn Resorts by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after acquiring an additional 34,907 shares in the last quarter. Regal Partners Ltd increased its stake in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. Holocene Advisors LP raised its position in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after purchasing an additional 755,236 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Wynn Resorts by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 624,469 shares of the casino operator’s stock worth $59,874,000 after purchasing an additional 10,465 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $80.61 on Friday. The firm has a 50 day simple moving average of $85.77 and a 200 day simple moving average of $86.78. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market cap of $8.85 billion, a P/E ratio of 9.94, a P/E/G ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. On average, sell-side analysts expect that Wynn Resorts, Limited will post 4.69 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group cut their price objective on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company dropped 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 report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.