PNC Financial Services Group Inc. Has $961,000 Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

PNC Financial Services Group Inc. increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,148 shares of the casino operator’s stock after buying an additional 444 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wynn Resorts were worth $961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WYNN. Fisher Asset Management LLC raised its holdings in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $75,872,000. Holocene Advisors LP lifted its holdings in shares of Wynn Resorts by 27,868.5% in the third 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. acquired a new position in shares of Wynn Resorts during the third quarter worth about $58,486,000. Finally, Weiss Asset Management LP bought a new position in shares of Wynn Resorts during the third quarter worth about $19,753,000. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Up 0.3 %

Shares of NASDAQ WYNN opened at $86.42 on Tuesday. The business’s 50 day moving average price is $85.50 and its two-hundred day moving average price is $88.80. The company has a market cap of $9.20 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted 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 for the quarter, compared to analyst estimates of $1.78 billion. 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is presently 23.75%.

Wall Street Analyst Weigh In

Several research firms have commented on WYNN. Mizuho boosted their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Morgan Stanley reduced their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Macquarie restated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

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.