Wealthfront Advisers LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Wealthfront Advisers LLC purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 63,340 shares of the casino operator's stock, valued at approximately $5,457,000. Wealthfront Advisers LLC owned approximately 0.06% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in WYNN. Principal Financial Group Inc. increased its stake in shares of Wynn Resorts by 1.9% in the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator's stock worth $10,361,000 after buying an additional 2,001 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Wynn Resorts by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator's stock worth $18,098,000 after buying an additional 7,850 shares during the period. Regal Partners Ltd increased its stake in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock worth $86,168,000 after buying an additional 174,005 shares during the period. CIBC Asset Management Inc increased its stake in shares of Wynn Resorts by 7.7% in the third quarter. CIBC Asset Management Inc now owns 14,252 shares of the casino operator's stock worth $1,366,000 after buying an additional 1,017 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Wynn Resorts by 49.2% in the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator's stock worth $1,120,000 after buying an additional 3,850 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Macquarie reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho lifted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Morgan Stanley cut their price target 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 investment 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's stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.58.

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Insider Buying and Selling

In other news, Director Philip G. Satre purchased 22,200 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Trading Down 2.0 %

Shares of WYNN stock opened at $85.67 on Thursday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a market cap of $9.12 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The company's fifty day moving average price is $85.42 and its 200-day moving average price is $88.52.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced 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 net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.78 billion. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's payout ratio is 23.75%.

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.

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