Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 66.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,596 shares of the casino operator's stock after buying an additional 39,196 shares during the period. Picton Mahoney Asset Management owned about 0.09% of Wynn Resorts worth $8,493,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts during the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $36,000. Spire Wealth Management boosted its position in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after buying an additional 234 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Trading Down 0.5 %

Shares of WYNN stock traded down $0.39 during trading hours on Wednesday, reaching $85.04. 1,533,708 shares of the company's stock were exchanged, compared to its average volume of 2,265,811. The stock's 50 day moving average is $85.56 and its 200-day moving average is $88.86. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion for 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 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Monday, February 24th. Wynn Resorts's payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value 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. The trade was a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WYNN shares. Mizuho boosted their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. Barclays boosted their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Morgan Stanley lowered their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Stifel Nicolaus boosted their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.