Callan Family Office LLC Buys New Shares in Wynn Resorts, Limited (NASDAQ:WYNN)

Callan Family Office LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,546 shares of the casino operator's stock, valued at approximately $306,000.

Other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in shares of Wynn Resorts in the 3rd quarter worth about $240,000. Principal Financial Group Inc. grew its holdings in Wynn Resorts by 1.9% in the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator's stock worth $10,361,000 after purchasing an additional 2,001 shares during the period. XML Financial LLC increased its stake in shares of Wynn Resorts by 5.9% during the third quarter. XML Financial LLC now owns 7,228 shares of the casino operator's stock valued at $693,000 after purchasing an additional 405 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Wynn Resorts by 207.4% during the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator's stock valued at $135,000 after purchasing an additional 950 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Wynn Resorts by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator's stock worth $18,098,000 after purchasing an additional 7,850 shares in the last quarter. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

Shares of WYNN traded down $2.38 during trading hours on Wednesday, hitting $85.01. The stock had a trading volume of 1,099,350 shares, compared to its average volume of 2,666,577. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a fifty day moving average price of $85.43 and a 200 day moving average price of $88.54. The firm has a market capitalization of $9.04 billion, a PE ratio of 20.22, a PEG ratio of 2.35 and a beta of 1.77.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.18%. Wynn Resorts's payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Morgan Stanley reduced their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Mizuho raised their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Finally, Macquarie reiterated an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.