Optimize Financial Inc Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Optimize Financial Inc bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,611 shares of the casino operator's stock, valued at approximately $570,000.

A number of other institutional investors have also bought and sold shares of WYNN. Wellington Management Group LLP grew its holdings in shares of Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator's stock valued at $11,094,000 after purchasing an additional 54,995 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $5,216,000. Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $75,872,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Wynn Resorts during the 4th quarter valued at approximately $2,270,000. Finally, Empirical Asset Management LLC acquired a new position in Wynn Resorts in the fourth quarter valued at approximately $903,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WYNN shares. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and lifted their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Stifel Nicolaus upped their target price on shares of 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 target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Macquarie reissued an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. 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 equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $119.58.

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Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta bought 300,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $70.37 per share, for a total transaction of $21,111,000.00. Following the completion of the transaction, the insider now directly owns 12,900,000 shares in the company, valued at approximately $907,773,000. The trade was a 2.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 438,700 shares of company stock valued at $31,300,943. Insiders own 0.52% of the company's stock.

Wynn Resorts Trading Up 2.4 %

WYNN traded up $1.76 on Tuesday, hitting $75.30. 129,278 shares of the company were exchanged, compared to its average volume of 2,451,610. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The firm has a 50-day moving average price of $83.10 and a two-hundred day moving average price of $88.49. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month 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 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Equities analysts expect 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. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. Wynn Resorts's payout ratio is 23.75%.

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.