Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,237 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,724 shares of the casino operator’s stock after buying an additional 3,237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Wynn Resorts worth $5,918,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Tidal Investments LLC increased its stake in Wynn Resorts by 157.7% in the 1st quarter. Tidal Investments LLC now owns 9,186 shares of the casino operator’s stock worth $939,000 after purchasing an additional 5,621 shares during the period. Comerica Bank increased its stake in shares of Wynn Resorts by 56.0% in the first quarter. Comerica Bank now owns 25,881 shares of the casino operator’s stock worth $2,646,000 after buying an additional 9,295 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Wynn Resorts by 326.5% during the first quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock worth $2,656,000 after purchasing an additional 19,889 shares during the period. Cetera Advisors LLC grew its stake in shares of Wynn Resorts by 9.4% in the first quarter. Cetera Advisors LLC now owns 9,870 shares of the casino operator’s stock worth $1,009,000 after purchasing an additional 850 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Wynn Resorts by 2.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,229 shares of the casino operator’s stock worth $1,239,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Morgan Stanley upped their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Trading Up 3.0 %

Shares of NASDAQ:WYNN opened at $94.38 on Monday. The stock has a fifty day simple moving average of $94.90 and a two-hundred day simple moving average of $87.91. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.46 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, equities research analysts predict that Wynn Resorts, Limited will post 4.78 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

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.