Hoertkorn Richard Charles Sells 300 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Hoertkorn Richard Charles lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 42.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new position in shares of Wynn Resorts in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts during the third quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts in the 4th quarter valued at about $36,000. Spire Wealth Management increased its position in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN opened at $86.15 on Friday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The stock has a 50-day moving average of $86.00 and a two-hundred day moving average of $89.08. The stock has a market cap of $9.15 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. Wynn Resorts’s payout ratio is currently 23.75%.

Insider Buying and Selling

In related news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the transaction, the insider now directly owns 10,905,025 shares in the company, valued at $883,197,974.75. This trade represents a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 38,700 shares of company stock valued at $3,427,943. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of recent research reports. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Barclays increased their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Morgan Stanley cut 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 report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.58.

About Wynn Resorts

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.