iA Global Asset Management Inc. Makes New $841,000 Investment in Wynn Resorts, Limited $WYNN

iA Global Asset Management Inc. purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,993 shares of the casino operator’s stock, valued at approximately $841,000.

Other large investors also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in shares of Wynn Resorts during the 2nd quarter worth $25,000. Root Financial Partners LLC purchased a new position in shares of Wynn Resorts during the 3rd quarter worth $26,000. Cromwell Holdings LLC lifted its stake in shares of Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after purchasing an additional 103 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $95.51 on Tuesday. The business has a 50-day moving average of $102.58 and a 200-day moving average of $113.13. The company has a market capitalization of $9.91 billion, a PE ratio of 28.51, a P/E/G ratio of 0.85 and a beta of 1.01. Wynn Resorts, Limited has a 1-year low of $82.63 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. On average, equities analysts expect that Wynn Resorts, Limited will post 4.8 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 29.85%.

Analyst Ratings Changes

WYNN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. Morgan Stanley dropped their price objective on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus dropped their price objective on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 13th. Barclays dropped their price objective on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Jefferies Financial Group dropped their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.