Sand Hill Global Advisors LLC Makes New $2.25 Million Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Sand Hill Global Advisors LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 26,150 shares of the casino operator's stock, valued at approximately $2,253,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $117,352,000. Raymond James Financial Inc. acquired a new stake in Wynn Resorts in the 4th quarter worth about $75,872,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after buying an additional 485,204 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Wynn Resorts by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after acquiring an additional 228,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Wynn Resorts by 23.5% in the fourth quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator's stock valued at $59,064,000 after acquiring an additional 130,349 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Tilman J. Fertitta acquired 11,475 shares of Wynn Resorts stock in a transaction on Monday, March 24th. The stock was purchased at an average cost of $84.93 per share, with a total value of $974,571.75. Following the purchase, the insider now directly owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. The trade was a 0.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip G. Satre acquired 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 438,700 shares of company stock worth $31,300,943 in the last 90 days. Company insiders own 0.52% of the company's stock.

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Wynn Resorts Stock Performance

NASDAQ WYNN traded up $0.89 during trading hours on Friday, hitting $73.19. The company had a trading volume of 2,710,084 shares, compared to its average volume of 2,459,996. The business has a 50 day moving average of $83.27 and a 200-day moving average of $88.66. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81. The company has a market cap of $7.77 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Sell-side analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio is currently 23.75%.

Analysts Set New Price Targets

Several research firms recently commented on WYNN. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Barclays increased their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and upped their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Macquarie reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Morgan Stanley reduced their target price on shares of 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently 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.