Magnetar Financial LLC Invests $281,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Magnetar Financial LLC bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,260 shares of the casino operator's stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also bought and sold shares of WYNN. Thrivent Financial for Lutherans increased its position in shares of Wynn Resorts by 49.2% in the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator's stock valued at $1,120,000 after acquiring an additional 3,850 shares during the period. Prospera Financial Services Inc increased its holdings in Wynn Resorts by 4.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator's stock valued at $443,000 after purchasing an additional 181 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Wynn Resorts during the 3rd quarter valued at about $202,000. Cerity Partners LLC raised its position in Wynn Resorts by 7.0% during the 3rd quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator's stock valued at $5,150,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Wynn Resorts by 13.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,058 shares of the casino operator's stock worth $1,156,000 after buying an additional 1,416 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Insider Activity

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at $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 38,700 shares of company stock worth $3,427,943 over the last 90 days. 0.52% of the stock is currently owned by insiders.

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Wynn Resorts Trading Up 2.4 %

NASDAQ:WYNN traded up $2.00 during trading hours on Tuesday, reaching $86.87. 3,189,372 shares of the company traded hands, compared to its average volume of 2,289,260. The business's 50-day moving average price is $85.78 and its two-hundred day moving average price is $89.06. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The stock has a market capitalization of $9.22 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Wynn Resorts's dividend payout ratio is presently 23.75%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" 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 company an "outperform" rating in a research report on Friday, February 14th. Barclays raised their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Two research 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 company's stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus target price of $119.58.

About Wynn Resorts

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.