Aviva PLC Cuts Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Posted by Defense World Staff on May 30th, 2023

Aviva PLC lowered its position in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,112 shares of the casino operator’s stock after selling 8,192 shares during the quarter. Aviva PLC owned 0.06% of Wynn Resorts worth $3,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Wynn Resorts during the 4th quarter worth about $328,000. SVB Wealth LLC increased its position in shares of Wynn Resorts by 6.8% in the fourth quarter. SVB Wealth LLC now owns 4,355 shares of the casino operator’s stock worth $359,000 after acquiring an additional 279 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Wynn Resorts by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,361 shares of the casino operator’s stock valued at $1,019,000 after acquiring an additional 389 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Wynn Resorts by 2.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,664 shares of the casino operator’s stock valued at $5,168,000 after acquiring an additional 1,641 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Wynn Resorts by 471.2% during the 4th quarter. Blair William & Co. IL now owns 19,154 shares of the casino operator’s stock worth $1,580,000 after purchasing an additional 15,801 shares during the period. Hedge funds and other institutional investors own 70.95% of the company’s stock.

Wynn Resorts Stock Up 0.1 %

Shares of NASDAQ WYNN opened at $101.13 on Tuesday. The stock has a market capitalization of $11.51 billion, a P/E ratio of -47.26 and a beta of 2.03. The stock’s 50 day moving average price is $109.01 and its two-hundred day moving average price is $99.89. Wynn Resorts, Limited has a 52-week low of $50.20 and a 52-week high of $117.86.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The casino operator reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.47. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business earned ($1.21) earnings per share. The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. On average, analysts anticipate that Wynn Resorts, Limited will post 1.7 EPS for the current year.

Wynn Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 0.99%. Wynn Resorts’s dividend payout ratio is currently -46.73%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $101.65, for a total value of $111,815.00. Following the sale, the director now owns 1,982 shares of the company’s stock, valued at approximately $201,470.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 transaction of $1,125,637.26. Following the completion of the transaction, the chief executive officer now directly owns 255,781 shares in the company, valued at $26,411,946.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patricia Mulroy sold 1,100 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $101.65, for a total value of $111,815.00. Following the completion of the transaction, the director now directly owns 1,982 shares of the company’s stock, valued at $201,470.30. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on WYNN. Deutsche Bank Aktiengesellschaft boosted their price objective on Wynn Resorts from $134.00 to $140.00 in a research note on Thursday, May 11th. StockNews.com began coverage on Wynn Resorts in a report on Thursday, May 18th. They issued a “hold” rating for the company. Wells Fargo & Company boosted their target price on shares of Wynn Resorts from $128.00 to $134.00 and gave the stock an “overweight” rating in a research report on Thursday, April 13th. Morgan Stanley raised their price target on shares of Wynn Resorts from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Finally, Citigroup upped their price objective on shares of 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. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $118.18.

About Wynn Resorts

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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.