Prudential PLC Buys New Shares in Wynn Resorts, Limited (NASDAQ:WYNN)

Prudential PLC acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,097 shares of the casino operator’s stock, valued at approximately $439,000.

A number of other institutional investors have also recently made changes to their positions in WYNN. New Wave Wealth Advisors LLC bought a new position in shares of Wynn Resorts during the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Wynn Resorts during the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the 4th quarter valued at approximately $36,000. Spire Wealth Management lifted its holdings in Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Wynn Resorts by 15.0% in the 4th 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. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on WYNN shares. Macquarie reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Barclays raised their price objective on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus boosted their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the purchase, the insider now directly owns 10,905,025 shares of the company’s stock, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 438,700 shares of company stock worth $31,300,943. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 2.7 %

Shares of NASDAQ:WYNN opened at $66.10 on Wednesday. The firm’s 50-day moving average is $84.19 and its 200 day moving average is $88.96. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates 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 analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

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.