First Trust Advisors LP raised its position in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 487.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 93,344 shares of the casino operator’s stock after acquiring an additional 77,444 shares during the period. First Trust Advisors LP owned about 0.08% of Wynn Resorts worth $7,698,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in WYNN. Dupont Capital Management Corp acquired a new position in Wynn Resorts in the 4th quarter valued at $25,000. UMB Bank n.a. raised its position in shares of Wynn Resorts by 200.0% during the fourth quarter. UMB Bank n.a. now owns 300 shares of the casino operator’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Wynn Resorts during the fourth quarter worth about $36,000. Penserra Capital Management LLC grew its stake in Wynn Resorts by 62.6% during the third quarter. Penserra Capital Management LLC now owns 504 shares of the casino operator’s stock worth $31,000 after purchasing an additional 194 shares during the period. Finally, Mach 1 Financial Group LLC acquired a new stake in Wynn Resorts during the third quarter worth approximately $34,000. Institutional investors own 70.95% of the company’s stock.
Wynn Resorts Stock Performance
NASDAQ WYNN opened at $101.02 on Friday. The company has a market capitalization of $11.50 billion, a PE ratio of -47.21 and a beta of 2.03. The business’s fifty day moving average is $109.26 and its 200 day moving average is $99.06. Wynn Resorts, Limited has a fifty-two week low of $50.20 and a fifty-two week high of $117.86.
Wynn Resorts Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Wynn Resorts’s dividend payout ratio is -46.73%.
Insider Activity
In related news, CEO Craig Scott Billings sold 10,901 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $103.26, for a total value of $1,125,637.26. Following the completion of the sale, the chief executive officer now owns 255,781 shares in the company, valued at $26,411,946.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.62% of the company’s stock.
Wall Street Analyst Weigh In
WYNN has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Wynn Resorts from $134.00 to $140.00 in a research note on Thursday, May 11th. Morgan Stanley boosted their price objective on Wynn Resorts from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. TheStreet raised Wynn Resorts from a “d+” rating to a “c-” rating in a research report on Tuesday, April 4th. Jefferies Financial Group boosted their price objective on Wynn Resorts from $130.00 to $135.00 in a research report on Monday, March 13th. Finally, Citigroup upped their price target on Wynn Resorts from $134.50 to $138.00 in a research report on Wednesday, May 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $118.18.
About Wynn Resorts
Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.
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