Desjardins Global Asset Management Inc. Has $118,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Desjardins Global Asset Management Inc. lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 43.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,298 shares of the casino operator’s stock after selling 998 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Wynn Resorts were worth $118,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of WYNN. American Century Companies Inc. boosted its stake in Wynn Resorts by 12.0% in the first quarter. American Century Companies Inc. now owns 9,786 shares of the casino operator’s stock worth $780,000 after purchasing an additional 1,048 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Wynn Resorts by 43.5% in the first quarter. MetLife Investment Management LLC now owns 33,369 shares of the casino operator’s stock worth $2,661,000 after purchasing an additional 10,117 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Wynn Resorts by 147.2% in the first quarter. Panagora Asset Management Inc. now owns 12,728 shares of the casino operator’s stock worth $1,015,000 after purchasing an additional 7,580 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Wynn Resorts by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,083 shares of the casino operator’s stock worth $1,123,000 after purchasing an additional 872 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Wynn Resorts by 0.4% in the first quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock worth $545,957,000 after purchasing an additional 30,460 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of recent analyst reports. UBS Group reduced their price objective on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Bank Of America (Bofa) upped their price target on Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Macquarie upped their price target on Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.43.

Wynn Resorts Trading Down 1.2 %

NASDAQ WYNN opened at $94.99 on Friday. Wynn Resorts, Limited has a 12 month low of $81.65 and a 12 month high of $117.86. The stock has a 50-day simple moving average of $102.28 and a 200 day simple moving average of $94.86. The company has a market capitalization of $10.65 billion, a PE ratio of 15.88 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.76. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.23) earnings per share. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. Wynn Resorts’s payout ratio is presently 16.72%.

Insider Activity at Wynn Resorts

In related news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Patricia Mulroy sold 960 shares of the firm’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 value of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,578 shares of company stock valued at $2,850,282. Insiders own 0.52% of the company’s stock.

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.