Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,959 shares of the casino operator’s stock after selling 1,336 shares during the period. Wynn Resorts accounts for approximately 1.3% of Townsend Asset Management Corp NC ADV’s investment portfolio, making the stock its 21st biggest position. Townsend Asset Management Corp NC ADV’s holdings in Wynn Resorts were worth $3,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WYNN. Fisher Asset Management LLC raised its position in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Wynn Resorts during the fourth quarter worth approximately $75,872,000. Holocene Advisors LP lifted its stake in shares of Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Wynn Resorts during the 3rd quarter worth $58,486,000. Finally, Weiss Asset Management LP acquired a new position in Wynn Resorts during the 3rd quarter worth approximately $19,753,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on WYNN shares. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Macquarie reaffirmed an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Barclays lifted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $90.67 on Thursday. The stock has a market cap of $9.65 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a 50 day moving average price of $85.34 and a two-hundred day moving average price of $88.13.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.10%. Wynn Resorts’s dividend payout ratio is currently 23.75%.

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.