US Bancorp DE Lowers Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

US Bancorp DE reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,166 shares of the casino operator’s stock after selling 1,659 shares during the quarter. US Bancorp DE’s holdings in Wynn Resorts were worth $790,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Fisher Asset Management LLC raised its holdings in shares of Wynn Resorts by 70.7% in 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 last quarter. Geode Capital Management LLC grew its position in Wynn Resorts by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after acquiring an additional 34,907 shares during the period. Regal Partners Ltd grew its position in Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. Holocene Advisors LP grew its position in Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after acquiring an additional 755,236 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Wynn Resorts by 23.5% during the fourth quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock valued at $59,064,000 after acquiring an additional 130,349 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $88.42 on Tuesday. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market capitalization of $9.41 billion, a P/E ratio of 21.00, a PEG ratio of 2.35 and a beta of 1.77. The business’s fifty day moving average price is $85.41 and its two-hundred day moving average price is $88.47.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. The business 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%. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is 23.75%.

Insider Activity

In related news, Director Philip G. Satre acquired 22,200 shares of the 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 acquisition, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of research reports. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley cut their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Stifel Nicolaus boosted their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.58.

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.