Jacobs Levy Equity Management Inc. Reduces Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,776 shares of the casino operator’s stock after selling 26,984 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Wynn Resorts were worth $15,748,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WYNN. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $31,000. Principal Financial Group Inc. raised its stake in shares of Wynn Resorts by 1.9% during the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock valued at $10,361,000 after acquiring an additional 2,001 shares in the last quarter. Czech National Bank raised its stake in shares of Wynn Resorts by 5.3% during the fourth quarter. Czech National Bank now owns 20,059 shares of the casino operator’s stock valued at $1,728,000 after acquiring an additional 1,010 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Wynn Resorts by 7.5% during the fourth quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator’s stock valued at $214,000 after acquiring an additional 183 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in Wynn Resorts in the fourth quarter worth approximately $3,088,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now owns 10,905,025 shares in the company, valued at $883,197,974.75. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. The trade was a 185.08% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is owned by insiders.

Wynn Resorts Price Performance

Shares of WYNN opened at $95.16 on Tuesday. The firm has a market capitalization of $9.95 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81. The company’s fifty day moving average price is $80.74 and its 200-day moving average price is $85.70.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Wynn Resorts’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.59 earnings per share. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, May 16th. Wynn Resorts’s payout ratio is 27.78%.

Analysts Set New Price Targets

A number of brokerages recently commented on WYNN. Argus downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $113.00 price objective on shares of Wynn Resorts in a research note on Wednesday, May 7th. Macquarie reissued an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $112.92.

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.