Wynn Resorts, Limited (NASDAQ:WYNN) Position Raised by Alliancebernstein L.P.

Alliancebernstein L.P. grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,760 shares of the casino operator's stock after purchasing an additional 13,553 shares during the period. Alliancebernstein L.P. owned about 0.11% of Wynn Resorts worth $10,577,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WYNN. Captrust Financial Advisors raised its position in Wynn Resorts by 41.2% in the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator's stock valued at $399,000 after purchasing an additional 1,215 shares in the last quarter. Wellington Management Group LLP lifted its position in Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator's stock valued at $11,094,000 after acquiring an additional 54,995 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts in the 3rd quarter valued at about $290,000. MML Investors Services LLC boosted its holdings in shares of Wynn Resorts by 135.7% in the third quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator's stock valued at $1,630,000 after acquiring an additional 9,788 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Wynn Resorts by 15.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,977 shares of the casino operator's stock worth $2,970,000 after purchasing an additional 4,212 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

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Wynn Resorts Stock Up 1.2 %

Shares of WYNN stock traded up $0.89 on Friday, reaching $73.19. 2,710,084 shares of the stock were exchanged, compared to its average volume of 2,459,996. The firm has a 50 day moving average of $83.27 and a two-hundred day moving average of $88.66. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81. The stock has a market cap of $7.77 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, equities research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Wynn Resorts's payout ratio is currently 23.75%.

Insiders Place Their Bets

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 cost of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of the business's stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now directly owns 12,600,000 shares of the company's stock, valued at $1,070,118,000. This represents a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 438,700 shares of company stock worth $31,300,943 in the last quarter. 0.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Mizuho increased their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Macquarie reiterated an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Morgan Stanley dropped their price target on 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 equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $119.58.

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.