abrdn plc Boosts Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

abrdn plc raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 66.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,621 shares of the casino operator’s stock after purchasing an additional 17,875 shares during the period. abrdn plc’s holdings in Wynn Resorts were worth $4,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WYNN. J.W. Cole Advisors Inc. lifted its holdings in Wynn Resorts by 29.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 8,771 shares of the casino operator’s stock worth $799,000 after buying an additional 1,996 shares during the last quarter. Federated Hermes Inc. lifted its stake in Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Wynn Resorts by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,918 shares of the casino operator’s stock worth $813,000 after purchasing an additional 484 shares during the period. TORQ CAPITAL MANAGEMENT HK Ltd increased its stake in Wynn Resorts by 108.1% during the fourth quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 220,600 shares of the casino operator’s stock valued at $20,099,000 after purchasing an additional 114,600 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Wynn Resorts by 23.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,688 shares of the casino operator’s stock worth $5,165,000 after purchasing an additional 10,617 shares during the period. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 0.7 %

Wynn Resorts stock opened at $95.88 on Monday. The company’s 50-day moving average price is $101.48 and its two-hundred day moving average price is $95.09. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 16.03 and a beta of 1.93. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. The business 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 business’s revenue for the quarter was up 83.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.23) earnings per share. Research analysts expect 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 of this dividend was Friday, February 16th. This represents a $1.00 annualized dividend and a yield of 1.04%. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Wells Fargo & Company increased their price target on Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Macquarie raised their price target on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Morgan Stanley upped their price objective on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Bank Of America (Bofa) raised their target price on Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.43.

Insider Buying and Selling

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the company’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 completion of the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the transaction, the chief financial officer now directly owns 78,150 shares in the company, valued at approximately $8,226,850.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The disclosure for this sale can be found here. Insiders have sold a total of 26,578 shares of company stock valued at $2,850,282 over the last three months. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Company 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.