Amundi Trims Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Amundi trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 65.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,583 shares of the casino operator’s stock after selling 403,499 shares during the period. Amundi owned about 0.19% of Wynn Resorts worth $17,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts in the fourth quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts during the third quarter worth $31,000. SBI Securities Co. Ltd. acquired a new position in Wynn Resorts during the 4th quarter valued at about $36,000. Spire Wealth Management raised its position in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $83.23 on Friday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The stock has a 50 day moving average price of $85.42 and a 200 day moving average price of $88.52. The stock has a market cap of $8.86 billion, a PE ratio of 19.77, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Insider Buying and Selling

In related news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WYNN. Barclays raised their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research 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 research note on Monday, February 24th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Macquarie restated an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Two investment 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts 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.