Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 525,282 shares of the casino operator's stock after buying an additional 107,212 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.48% of Wynn Resorts worth $45,258,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new stake in Wynn Resorts in the third quarter valued at approximately $240,000. Principal Financial Group Inc. increased its stake in Wynn Resorts by 1.9% during the 3rd 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. Covestor Ltd lifted its holdings in Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator's stock worth $135,000 after buying an additional 950 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Wynn Resorts by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator's stock valued at $18,098,000 after buying an additional 7,850 shares during the last quarter. Finally, Crystal Rock Capital Management acquired a new stake in shares of Wynn Resorts during the third quarter valued at about $719,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Philip G. Satre acquired 22,200 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

WYNN has been the topic of several recent analyst reports. Macquarie reiterated an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Morgan Stanley decreased their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Mizuho upped their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Finally, StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $119.58.

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Wynn Resorts Stock Down 1.2 %

WYNN opened at $87.38 on Wednesday. The company's 50-day moving average price is $85.43 and its 200 day moving average price is $88.54. 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 $9.30 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share 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 business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.78 billion. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is 23.75%.

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.

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