Pictet Asset Management Ltd. Grows Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

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Pictet Asset Management Ltd. boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 15.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,409 shares of the casino operator’s stock after purchasing an additional 5,534 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Wynn Resorts were worth $5,258,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Wynn Resorts in the second quarter valued at $35,000. Manchester Financial Inc. purchased a new stake in shares of Wynn Resorts in the second quarter valued at $36,000. Zions Bancorporation N.A. purchased a new stake in shares of Wynn Resorts in the first quarter valued at $41,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Wynn Resorts in the first quarter valued at $48,000. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Wynn Resorts by 10,900.0% in the first quarter. FinTrust Capital Advisors LLC now owns 440 shares of the casino operator’s stock valued at $53,000 after acquiring an additional 436 shares during the period. 75.76% of the stock is currently owned by institutional investors.

Shares of NASDAQ WYNN traded down $3.56 during mid-day trading on Tuesday, reaching $113.04. The company had a trading volume of 586,016 shares, compared to its average volume of 2,271,068. The business’s 50-day moving average is $112.97 and its 200-day moving average is $123.90. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 5.00. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 2.01 and a beta of 2.06. Wynn Resorts, Limited has a 52 week low of $90.06 and a 52 week high of $151.50.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.44. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Friday, August 16th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, August 15th. Wynn Resorts’s payout ratio is 61.16%.

In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $117.30, for a total transaction of $2,932,500.00. Following the transaction, the chief executive officer now directly owns 459,185 shares in the company, valued at approximately $53,862,400.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.

WYNN has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on shares of Wynn Resorts from $129.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Nomura reduced their target price on shares of Wynn Resorts from $142.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. BidaskClub raised shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Citigroup set a $141.00 target price on shares of Wynn Resorts and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Deutsche Bank set a $150.00 target price on shares of Wynn Resorts and gave the company a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Wynn Resorts has a consensus rating of “Buy” and an average price target of $136.25.

Wynn Resorts Company Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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