Principal Financial Group Inc. Boosts Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Principal Financial Group Inc. grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,067 shares of the casino operator’s stock after purchasing an additional 2,001 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Wynn Resorts worth $10,361,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Malaga Cove Capital LLC purchased a new position in Wynn Resorts in the third quarter worth approximately $466,000. Concurrent Investment Advisors LLC purchased a new position in Wynn Resorts in the third quarter worth approximately $240,000. Invictus Private Wealth LLC purchased a new position in Wynn Resorts in the third quarter worth approximately $240,000. Private Wealth Partners LLC lifted its stake in Wynn Resorts by 5.8% in the third quarter. Private Wealth Partners LLC now owns 5,040 shares of the casino operator’s stock worth $483,000 after acquiring an additional 275 shares during the last quarter. Finally, Lmcg Investments LLC purchased a new position in Wynn Resorts in the third quarter worth approximately $3,772,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna raised their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Macquarie reissued an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $90.74 on Monday. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 3.26 and a beta of 1.80. The firm’s fifty day simple moving average is $92.12 and its 200-day simple moving average is $88.20. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. Analysts anticipate that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.10%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

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.