Proficio Capital Partners LLC Invests $1.75 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Proficio Capital Partners LLC acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,334 shares of the casino operator's stock, valued at approximately $1,752,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. New Wave Wealth Advisors LLC purchased a new position in Wynn Resorts in the 4th quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new position in Wynn Resorts in the 3rd quarter worth $31,000. SBI Securities Co. Ltd. purchased a new position in Wynn Resorts in the 4th quarter worth $36,000. Spire Wealth Management raised its stake in Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after acquiring an additional 234 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Down 0.5 %

Shares of NASDAQ:WYNN traded down $0.44 during trading on Friday, reaching $82.63. 4,315,577 shares of the company's stock traded hands, compared to its average volume of 2,288,833. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market cap of $8.79 billion, a PE ratio of 19.63, a P/E/G ratio of 2.35 and a beta of 1.76. The company has a 50-day simple moving average of $85.71 and a 200-day simple moving average of $88.92.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.78 billion. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts's payout ratio is 23.75%.

Insider Buying and Selling

In other news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WYNN shares. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Barclays raised their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Stifel Nicolaus lifted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Mizuho lifted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued 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.

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.