Bank of Nova Scotia Has $274,000 Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Bank of Nova Scotia trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 95.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,177 shares of the casino operator’s stock after selling 72,783 shares during the quarter. Bank of Nova Scotia’s holdings in Wynn Resorts were worth $274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after acquiring an additional 485,204 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wynn Resorts by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock worth $209,120,000 after buying an additional 26,792 shares during the period. Renaissance Technologies LLC boosted its stake in Wynn Resorts by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock valued at $139,300,000 after buying an additional 228,000 shares in the last quarter. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter valued at $117,352,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Wynn Resorts by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after purchasing an additional 5,032 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on WYNN shares. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Stifel Nicolaus raised their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Mizuho upped their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Two equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Insider Buying and Selling

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

Wynn Resorts Stock Up 1.8 %

Shares of NASDAQ WYNN opened at $74.90 on Wednesday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The company’s fifty day moving average is $82.99 and its 200-day moving average is $88.40. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.35 and a beta of 1.53.

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

Wynn Resorts Announces Dividend

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. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

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.