IFM Investors Pty Ltd Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

IFM Investors Pty Ltd boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,801 shares of the casino operator’s stock after purchasing an additional 765 shares during the period. IFM Investors Pty Ltd’s holdings in Wynn Resorts were worth $2,024,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wynn Resorts during the fourth quarter valued at about $157,305,000. Sequoia Financial Advisors LLC increased its position in shares of Wynn Resorts by 20,031.9% during the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock valued at $46,807,000 after acquiring an additional 504,003 shares during the last quarter. Invesco Ltd. increased its position in shares of Wynn Resorts by 20.7% during the third quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock valued at $133,908,000 after acquiring an additional 248,820 shares during the last quarter. ING Groep NV grew its holdings in shares of Wynn Resorts by 1,657.3% in the third quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock valued at $24,023,000 after purchasing an additional 245,165 shares in the last quarter. Finally, Eminence Capital LP acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $15,089,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WYNN shares. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Wells Fargo & Company lifted their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Susquehanna lifted their price objective on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Finally, Bank Of America (Bofa) lifted their price target on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.43.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the transaction, the chief financial officer now directly owns 78,150 shares in the company, valued at approximately $8,226,850.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,578 shares of company stock worth $2,850,282. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ WYNN traded down $0.72 during trading hours on Friday, reaching $95.88. The company’s stock had a trading volume of 1,419,971 shares, compared to its average volume of 1,452,594. The stock has a market cap of $10.75 billion, a PE ratio of 16.03 and a beta of 1.93. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $117.86. The company’s 50-day moving average is $101.48 and its two-hundred day moving average is $95.09.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm’s revenue was up 83.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.23) EPS. Equities analysts expect that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. Wynn Resorts’s dividend payout ratio (DPR) is 16.72%.

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.