Navalign LLC Cuts Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Navalign LLC reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,798 shares of the casino operator’s stock after selling 131 shares during the period. Navalign LLC’s holdings in Wynn Resorts were worth $802,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WYNN. Vanguard Group Inc. increased its position in Wynn Resorts by 0.9% during the third quarter. Vanguard Group Inc. now owns 11,424,780 shares of the casino operator’s stock valued at $720,104,000 after acquiring an additional 100,246 shares during the last quarter. BlackRock Inc. raised its holdings in Wynn Resorts by 3.3% in the 2nd quarter. BlackRock Inc. now owns 6,958,745 shares of the casino operator’s stock worth $734,913,000 after purchasing an additional 224,974 shares during the period. State Street Corp increased its position in Wynn Resorts by 4.8% in the second quarter. State Street Corp now owns 3,910,031 shares of the casino operator’s stock worth $412,938,000 after buying an additional 180,839 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wynn Resorts by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 2,278,522 shares of the casino operator’s stock valued at $254,444,000 after buying an additional 54,183 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Wynn Resorts by 30.9% during the 3rd quarter. Morgan Stanley now owns 1,510,768 shares of the casino operator’s stock valued at $139,610,000 after acquiring an additional 356,202 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insider Activity

In other news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was 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 approximately $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ellen F. Whittemore sold 654 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $93.90, for a total value of $61,410.60. Following the completion of the sale, the executive vice president now owns 90,025 shares of the company’s stock, valued at $8,453,347.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the transaction, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The disclosure for this sale can be found here. Insiders sold a total of 73,828 shares of company stock valued at $7,345,942 in the last three months. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $0.44 during trading hours on Thursday, reaching $102.23. The stock had a trading volume of 1,015,457 shares, compared to its average volume of 1,855,688. Wynn Resorts, Limited has a 52-week low of $81.65 and a 52-week high of $117.86. The stock has a fifty day moving average of $100.53 and a 200 day moving average of $93.84. The stock has a market cap of $11.46 billion, a P/E ratio of 17.10 and a beta of 1.94.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm’s revenue was up 83.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.23) earnings per share. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.27 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a yield of 0.98%. Wynn Resorts’s dividend payout ratio is presently 16.72%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $99.00 to $107.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Wells Fargo & Company boosted their price objective on Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Macquarie boosted their price target on Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.62.

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.