Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,400 shares of the casino operator's stock after acquiring an additional 7,900 shares during the period. Gabelli Funds LLC owned 0.05% of Wynn Resorts worth $5,204,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brandywine Global Investment Management LLC purchased a new position in Wynn Resorts during the fourth quarter valued at $5,216,000. Alliancebernstein L.P. raised its position in shares of Wynn Resorts by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after purchasing an additional 13,553 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $75,872,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $2,270,000. Finally, Empirical Asset Management LLC purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $903,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

Wynn Resorts stock traded up $1.89 during trading hours on Wednesday, hitting $78.86. The company had a trading volume of 947,632 shares, compared to its average volume of 2,468,056. The firm has a market cap of $8.37 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.35 and a beta of 1.53. The company has a 50-day moving average price of $82.58 and a two-hundred day moving average price of $87.49. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.78 billion. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid 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 1.27%. Wynn Resorts's dividend payout ratio (DPR) is currently 23.75%.

Analyst Ratings Changes

WYNN has been the subject of several recent analyst reports. Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Macquarie restated an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Barclays dropped their target price on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Three investment 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 company. According to data from MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and an average price target of $118.17.

Insider Buying and Selling

In related news, major shareholder Tilman J. Fertitta bought 5,025 shares of the company's stock in a transaction on Friday, March 21st. The shares were acquired at an average price of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the company's stock in a transaction 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 transaction, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 438,700 shares of company stock valued at $31,300,943 over the last quarter. 0.52% of the stock is owned by corporate insiders.

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.