New York Life Investment Management LLC Acquires 524 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

New York Life Investment Management LLC raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 12,694 shares of the casino operator’s stock after purchasing an additional 524 shares during the quarter. New York Life Investment Management LLC’s holdings in Wynn Resorts were worth $1,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Wynn Resorts by 23.5% during the 4th quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock worth $59,064,000 after acquiring an additional 130,349 shares during the last quarter. Prasad Wealth Partners LLC bought a new stake in Wynn Resorts during the 4th quarter worth about $215,000. Impax Asset Management Group plc bought a new stake in Wynn Resorts during the 4th quarter worth about $655,000. IFP Advisors Inc grew its holdings in Wynn Resorts by 2.7% during the 4th quarter. IFP Advisors Inc now owns 10,813 shares of the casino operator’s stock worth $933,000 after acquiring an additional 281 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Wynn Resorts during the 4th quarter worth about $1,010,000. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $88.93 on Tuesday. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.35 and a beta of 1.76. The firm’s 50 day simple moving average is $85.37 and its 200 day simple moving average is $88.05. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.12%. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Barclays upped their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Mizuho upped their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Insiders Place Their Bets

In related news, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased 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 approximately $3,152,095.10. This represents a 185.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

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.