Farringdon Capital Ltd. Purchases New Shares in Wynn Resorts, Limited (NASDAQ:WYNN)

Farringdon Capital Ltd. acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,235 shares of the casino operator's stock, valued at approximately $623,000.

A number of other institutional investors and hedge funds have also modified their holdings of WYNN. Barrow Hanley Mewhinney & Strauss LLC grew its position in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Geode Capital Management LLC boosted its position in Wynn Resorts by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after buying an additional 26,792 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock worth $139,300,000 after acquiring an additional 228,000 shares in the last quarter. Norges Bank bought a new position in Wynn Resorts in the 4th quarter valued at $117,352,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Wynn Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator's stock valued at $82,062,000 after buying an additional 5,032 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of Wynn Resorts stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares in the company, valued at $883,197,974.75. This trade represents a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 438,700 shares of company stock valued at $31,300,943 over the last 90 days. 0.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Barclays lifted their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Mizuho boosted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $119.58.

Wynn Resorts Stock Up 2.8 %

Shares of NASDAQ WYNN traded up $2.12 during midday trading on Tuesday, hitting $77.08. 536,652 shares of the company's stock were exchanged, compared to its average volume of 2,737,305. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81. The firm has a market capitalization of $8.18 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The company's 50 day moving average price is $82.65 and its 200 day moving average price is $87.56.

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 for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, February 24th. Wynn Resorts's payout ratio is currently 23.75%.

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.