Gamco Investors INC. ET AL Increases Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Gamco Investors INC. ET AL grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 54.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 55,857 shares of the casino operator's stock after acquiring an additional 19,737 shares during the quarter. Gamco Investors INC. ET AL owned about 0.05% of Wynn Resorts worth $4,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MML Investors Services LLC grew its stake in shares of Wynn Resorts by 135.7% in the 3rd quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator's stock worth $1,630,000 after buying an additional 9,788 shares in the last quarter. M&T Bank Corp raised its position in Wynn Resorts by 8.7% during the third quarter. M&T Bank Corp now owns 4,358 shares of the casino operator's stock valued at $418,000 after purchasing an additional 348 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts in the 3rd quarter worth approximately $31,000. Synovus Financial Corp bought a new position in shares of Wynn Resorts during the 3rd quarter valued at approximately $202,000. Finally, Franklin Resources Inc. lifted its position in Wynn Resorts by 0.5% in the third quarter. Franklin Resources Inc. now owns 250,962 shares of the casino operator's stock worth $26,088,000 after buying an additional 1,165 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on WYNN. Barclays boosted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley dropped their target price on 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 increased their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, February 14th. Finally, StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Two research 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. According to data from MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and an average price target of $119.58.

Wynn Resorts Stock Performance

Wynn Resorts stock traded up $1.17 during midday trading on Tuesday, hitting $76.13. 353,059 shares of the company's stock were exchanged, compared to its average volume of 2,734,892. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81. The company has a market cap of $8.08 billion, a PE ratio of 18.08, a P/E/G ratio of 2.35 and a beta of 1.53. The firm has a 50-day moving average of $82.65 and a two-hundred day moving average of $87.56.

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 (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.31%. The ex-dividend date was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is currently 23.75%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the company'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 purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the firm's stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the purchase, the insider now owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 438,700 shares of company stock valued at $31,300,943 over the last quarter. 0.52% of the stock is owned by corporate insiders.

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.