Cohen Capital Management Inc. Decreases Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Cohen Capital Management Inc. lowered its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 22.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,506 shares of the casino operator’s stock after selling 1,581 shares during the period. Cohen Capital Management Inc.’s holdings in Wynn Resorts were worth $502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in shares of Wynn Resorts by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after acquiring an additional 109 shares during the last quarter. Federated Hermes Inc. raised its holdings in Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after buying an additional 140 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC raised its holdings in Wynn Resorts by 4.3% in the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 3,630 shares of the casino operator’s stock valued at $323,000 after buying an additional 150 shares during the period. Mystic Asset Management Inc. raised its holdings in Wynn Resorts by 1.6% in the 3rd quarter. Mystic Asset Management Inc. now owns 11,131 shares of the casino operator’s stock valued at $1,029,000 after buying an additional 175 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in Wynn Resorts by 2.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,934 shares of the casino operator’s stock valued at $733,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analysts Set New Price Targets

WYNN has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Susquehanna boosted their price objective on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a report on Thursday, February 8th. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, UBS Group cut their price target on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.43.

Insider Buying and Selling

In related news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the transaction, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,578 shares of company stock worth $2,850,282. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN stock traded up $2.49 during trading hours on Monday, reaching $97.48. 1,694,632 shares of the stock were exchanged, compared to its average volume of 1,802,725. The business’s fifty day moving average is $102.12 and its two-hundred day moving average is $94.99. Wynn Resorts, Limited has a 12-month low of $81.65 and a 12-month high of $117.86. The firm has a market capitalization of $10.93 billion, a P/E ratio of 16.30 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the firm earned ($1.23) earnings per share. The business’s quarterly revenue was up 83.1% compared to the same quarter last year. As a group, equities research analysts predict that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Wynn Resorts’s payout ratio is 16.72%.

About Wynn Resorts

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.