Hoertkorn Richard Charles Reduces Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Hoertkorn Richard Charles lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 42.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 400 shares of the casino operator’s stock after selling 300 shares during the quarter. Hoertkorn Richard Charles’ holdings in Wynn Resorts were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Wynn Resorts by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after purchasing an additional 34,907 shares during the last quarter. Norges Bank acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at $117,352,000. Charles Schwab Investment Management Inc. increased its position in Wynn Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after purchasing an additional 5,032 shares during the last quarter. Raymond James Financial Inc. bought a new position in Wynn Resorts during the fourth quarter valued at approximately $75,872,000. Finally, Holocene Advisors LP boosted its holdings in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after purchasing an additional 755,236 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Up 0.4 %

Shares of WYNN stock opened at $86.15 on Friday. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.35 and a beta of 1.77. The business’s fifty day moving average is $86.00 and its 200 day moving average is $89.08.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Equities 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of Wynn Resorts stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the transaction, the insider now owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. This represents a 0.05 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 38,700 shares of company stock worth $3,427,943. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of research reports. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Stifel Nicolaus raised their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Macquarie restated an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Morgan Stanley reduced their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Barclays upped their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.