Empirical Asset Management LLC Invests $903,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Empirical Asset Management LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,475 shares of the casino operator's stock, valued at approximately $903,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanders Morris Harris LLC purchased a new stake in Wynn Resorts during the fourth quarter valued at approximately $665,000. Oak Thistle LLC purchased a new position in shares of Wynn Resorts during the 4th quarter valued at $3,088,000. Wedmont Private Capital lifted its stake in shares of Wynn Resorts by 7.5% during the 4th quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator's stock valued at $214,000 after buying an additional 183 shares in the last quarter. Czech National Bank increased its stake in Wynn Resorts by 5.3% in the 4th quarter. Czech National Bank now owns 20,059 shares of the casino operator's stock worth $1,728,000 after buying an additional 1,010 shares in the last quarter. Finally, LVM Capital Management Ltd. MI bought a new stake in Wynn Resorts during the fourth quarter valued at about $532,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Up 2.6 %

WYNN traded up $2.17 during trading hours on Friday, reaching $84.67. 3,331,644 shares of the company's stock traded hands, compared to its average volume of 1,666,007. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $9.30 billion, a PE ratio of 10.44, a PEG ratio of 2.40 and a beta of 1.77. The firm has a 50-day moving average price of $88.96 and a 200 day moving average price of $86.96.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts's revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. Equities analysts predict that Wynn Resorts, Limited will post 4.73 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. Wynn Resorts's payout ratio is currently 12.33%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a research note on Friday, October 11th. Jefferies Financial Group dropped their price target on Wynn Resorts from $109.00 to $105.00 and set a "hold" rating for the company in a research note on Friday, January 3rd. Barclays reduced their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Macquarie restated an "outperform" rating and set a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th. Finally, Morgan Stanley lifted their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $117.23.

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.