Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,593 shares of the casino operator’s stock after selling 3,044 shares during the period. Pictet Asset Management Holding SA’s holdings in Wynn Resorts were worth $3,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 34,907 shares during the period. Norges Bank bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $117,352,000. Charles Schwab Investment Management Inc. grew its stake in shares of Wynn Resorts by 0.5% in the 4th 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 last quarter. Raymond James Financial Inc. bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $75,872,000. Finally, Bank of New York Mellon Corp lifted its stake in Wynn Resorts by 23.5% during the fourth quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock valued at $59,064,000 after purchasing an additional 130,349 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $70.09 on Friday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.35 and a beta of 1.53. The stock has a 50-day simple moving average of $85.25 and a 200-day simple moving average of $89.16. Wynn Resorts, Limited has a 52-week low of $66.20 and a 52-week high of $108.50.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS 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 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%. As a group, equities research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders 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 annualized dividend and a yield of 1.43%. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the transaction, the insider now directly owns 12,600,000 shares in the company, valued at $1,070,118,000. This trade represents a 0.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost 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 $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 38,700 shares of company stock valued at $3,427,943 over the last quarter. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of several recent research reports. Mizuho lifted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

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.