iA Global Asset Management Inc. Invests $841,000 in Wynn Resorts, Limited $WYNN

iA Global Asset Management Inc. purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,993 shares of the casino operator’s stock, valued at approximately $841,000.

Several other large investors have also modified their holdings of the stock. MUFG Securities EMEA plc bought a new position in Wynn Resorts in the second quarter worth about $25,000. Root Financial Partners LLC bought a new position in Wynn Resorts in the third quarter worth about $26,000. Cromwell Holdings LLC lifted its holdings in Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Wynn Resorts in the fourth quarter worth about $34,000. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 0.1%

Shares of NASDAQ:WYNN opened at $95.51 on Tuesday. The firm’s 50 day moving average is $102.58 and its two-hundred day moving average is $113.13. Wynn Resorts, Limited has a 52 week low of $82.63 and a 52 week high of $134.72. The firm has a market capitalization of $9.91 billion, a P/E ratio of 28.51, a PEG ratio of 0.85 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $1.07 earnings per share. Wynn Resorts’s revenue was up 9.2% compared to the same quarter last year. Analysts predict that Wynn Resorts, Limited will post 4.8 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WYNN. UBS Group reissued a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Citigroup cut their target price on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Barclays cut their target price on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Susquehanna cut their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a report on Thursday, April 16th. Finally, Bank of America cut their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.00.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.