Elo Mutual Pension Insurance Co Acquires Shares of 11,109 Wynn Resorts, Limited (NASDAQ:WYNN)

Elo Mutual Pension Insurance Co purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,109 shares of the casino operator's stock, valued at approximately $957,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Wynn Resorts by 90.6% in the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator's stock worth $11,094,000 after buying an additional 54,995 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Wynn Resorts during the 4th quarter valued at $75,872,000. Empirical Asset Management LLC bought a new position in Wynn Resorts in the 4th quarter worth $903,000. Cookson Peirce & Co. Inc. lifted its position in shares of Wynn Resorts by 79.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator's stock worth $2,915,000 after purchasing an additional 15,017 shares during the period. Finally, ARGA Investment Management LP bought a new stake in shares of Wynn Resorts during the 3rd quarter valued at about $2,174,000. 88.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta bought 11,475 shares of Wynn Resorts stock in a transaction dated Monday, March 24th. The shares were purchased at an average cost of $84.93 per share, with a total value of $974,571.75. Following the completion of the acquisition, the insider now owns 12,600,000 shares of the company's stock, valued at $1,070,118,000. This trade represents a 0.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip G. Satre purchased 22,200 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company's stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 38,700 shares of company stock worth $3,427,943 in the last three months. 0.52% of the stock is owned by company insiders.

Remove Ads

Wynn Resorts Stock Down 0.9 %

NASDAQ:WYNN traded down $0.77 during trading hours on Tuesday, hitting $82.73. 1,499,736 shares of the stock traded hands, compared to its average volume of 2,350,355. The stock has a 50 day moving average price of $85.86 and a 200 day moving average price of $89.39. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

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

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is presently 23.75%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WYNN. Macquarie restated an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus lifted 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. Barclays increased their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and boosted their target price for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and an average price target of $119.58.

Wynn Resorts Company 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.