Private Wealth Partners LLC Buys 2,440 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Private Wealth Partners LLC raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 104.9% in the 4th quarter, Holdings Channel reports. The firm owned 4,765 shares of the casino operator’s stock after purchasing an additional 2,440 shares during the quarter. Private Wealth Partners LLC’s holdings in Wynn Resorts were worth $434,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Wynn Resorts in the 4th quarter worth about $38,000. Federated Hermes Inc. raised its position in shares of Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after acquiring an additional 140 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Wynn Resorts by 1,083.8% in the 4th quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after acquiring an additional 401 shares in the last quarter. 68.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank Of America (Bofa) lifted their price objective on Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Wells Fargo & Company lifted their price objective on Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Mizuho initiated coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. UBS Group reduced their target price on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.43.

Wynn Resorts Stock Performance

WYNN traded down $0.72 during midday trading on Friday, reaching $95.88. 1,419,971 shares of the company were exchanged, compared to its average volume of 1,452,594. The company’s fifty day moving average price is $101.48 and its 200 day moving average price is $95.09. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 16.03 and a beta of 1.93. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $117.86.

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

Wynn Resorts Dividend Announcement

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

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,578 shares of company stock valued at $2,850,282. 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.