Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 685,512 shares of the casino operator’s stock after acquiring an additional 130,349 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of Wynn Resorts worth $59,064,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WYNN. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts during the third quarter worth about $31,000. Spire Wealth Management grew its holdings in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after acquiring an additional 234 shares during the period. Venturi Wealth Management LLC grew its holdings in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after acquiring an additional 122 shares during the period. Finally, Covestor Ltd grew its holdings in Wynn Resorts by 207.4% during the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock worth $135,000 after acquiring an additional 950 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Mizuho increased their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their price target for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $87.10 on Wednesday. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.35 and a beta of 1.76. The business has a 50 day simple moving average of $85.34 and a 200 day simple moving average of $88.13. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping 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, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. Wynn Resorts’s payout ratio is 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.