Signature Estate & Investment Advisors LLC Invests $1.51 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Signature Estate & Investment Advisors LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,544 shares of the casino operator's stock, valued at approximately $1,512,000.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Wynn Resorts in the 4th quarter worth $75,872,000. Holocene Advisors LP grew its holdings in shares of Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock worth $72,672,000 after buying an additional 755,236 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Wynn Resorts in the 3rd quarter valued at approximately $19,753,000. Jacobs Levy Equity Management Inc. lifted its stake in Wynn Resorts by 466.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator's stock valued at $20,112,000 after acquiring an additional 172,717 shares in the last quarter. Finally, Biglari Capital CORP. acquired a new position in Wynn Resorts during the 3rd quarter worth approximately $13,308,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Trading Down 4.4 %

WYNN stock traded down $3.82 during mid-day trading on Friday, hitting $82.33. 2,484,396 shares of the company were exchanged, compared to its average volume of 2,357,221. 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 $8.74 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The business has a 50 day simple moving average of $85.96 and a 200-day simple moving average of $89.22.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.25 per share. 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 1.21%. Wynn Resorts's payout ratio is presently 23.75%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Macquarie restated an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Morgan Stanley lowered their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Stifel Nicolaus increased their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Mizuho boosted their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $119.58.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the firm's stock in a transaction 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 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the business's stock in a transaction on Monday, March 24th. The shares were acquired at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the purchase, the insider now directly owns 12,600,000 shares of the company's stock, valued at approximately $1,070,118,000. The trade was a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 38,700 shares of company stock worth $3,427,943. Company insiders own 0.52% of the company's stock.

Wynn Resorts Company 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.