Principal Securities Inc. Sells 158 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Principal Securities Inc. lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 31.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 345 shares of the casino operator’s stock after selling 158 shares during the quarter. Principal Securities Inc.’s holdings in Wynn Resorts were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vontobel Holding Ltd. grew its position in Wynn Resorts by 11.8% during the 4th quarter. Vontobel Holding Ltd. now owns 9,744 shares of the casino operator’s stock worth $840,000 after acquiring an additional 1,026 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Wynn Resorts by 1.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 36,309 shares of the casino operator’s stock worth $3,220,000 after acquiring an additional 569 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Wynn Resorts by 70.7% in the 4th quarter. Van ECK Associates Corp now owns 72,242 shares of the casino operator’s stock valued at $6,224,000 after buying an additional 29,931 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Wynn Resorts by 1.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock valued at $844,000 after acquiring an additional 176 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Wynn Resorts by 36.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,337 shares of the casino operator’s stock valued at $915,000 after purchasing an additional 2,754 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of analyst reports. Wells Fargo & Company lowered 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. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their price target for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Morgan Stanley lowered their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $89.32 on Friday. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market cap of $9.50 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. The firm has a 50-day simple moving average of $85.35 and a two-hundred day simple moving average of $87.77.

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, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Equities research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 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.