Wynn Resorts, Limited (NASDAQ:WYNN) Shares Acquired by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 79.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,828 shares of the casino operator's stock after purchasing an additional 15,017 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in Wynn Resorts were worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WYNN. State of Alaska Department of Revenue increased its holdings in Wynn Resorts by 4.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 10,861 shares of the casino operator's stock worth $1,041,000 after purchasing an additional 490 shares during the period. Invictus Private Wealth LLC purchased a new position in Wynn Resorts during the 3rd quarter worth $240,000. Concurrent Investment Advisors LLC purchased a new position in Wynn Resorts during the 3rd quarter worth $240,000. Malaga Cove Capital LLC purchased a new position in shares of Wynn Resorts in the 3rd quarter valued at $466,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Wynn Resorts by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator's stock valued at $10,361,000 after acquiring an additional 2,001 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Stifel Nicolaus lifted 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. Jefferies Financial Group upgraded 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. Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Macquarie reiterated an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.58.

Remove Ads

Wynn Resorts Price Performance

WYNN traded up $0.53 on Friday, reaching $88.72. 1,889,570 shares of the stock were exchanged, compared to its average volume of 2,729,193. The company's 50-day moving average price is $85.35 and its 200 day moving average price is $88.15. 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 capitalization of $9.44 billion, a PE ratio of 21.07, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping 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 company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. As a group, equities 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. 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 yield of 1.13%. Wynn Resorts's dividend payout ratio is currently 23.75%.

Insiders Place Their Bets

In related news, Director Philip G. Satre acquired 22,200 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by insiders.

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.