Diametric Capital LP reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,708 shares of the casino operator's stock after selling 10,210 shares during the period. Wynn Resorts makes up approximately 2.0% of Diametric Capital LP's holdings, making the stock its 4th largest holding. Diametric Capital LP's holdings in Wynn Resorts were worth $2,990,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of WYNN. Wellington Management Group LLP increased its stake in shares of Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator's stock valued at $11,094,000 after buying an additional 54,995 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Wynn Resorts during the 4th quarter worth about $75,872,000. Empirical Asset Management LLC bought a new position in shares of Wynn Resorts in the 4th quarter valued at about $903,000. Cookson Peirce & Co. Inc. grew its position in shares of Wynn Resorts by 79.8% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator's stock worth $2,915,000 after buying an additional 15,017 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Wynn Resorts by 25.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 525,282 shares of the casino operator's stock valued at $45,258,000 after acquiring an additional 107,212 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on WYNN shares. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Barclays increased their price target 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 upped their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Finally, Macquarie restated an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Two research 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. According to MarketBeat.com, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.58.
Read Our Latest Research Report on WYNN
Wynn Resorts Trading Down 1.4 %
Shares of NASDAQ WYNN traded down $1.19 during midday trading on Wednesday, reaching $81.54. The company's stock had a trading volume of 2,526,586 shares, compared to its average volume of 2,353,639. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a 50 day simple moving average of $85.79 and a 200-day simple moving average of $89.34. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.35 and a beta of 1.77.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.
Wynn Resorts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued 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 1.23%. Wynn Resorts's payout ratio is 23.75%.
Insiders Place Their Bets
In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the purchase, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Philip G. Satre acquired 22,200 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is currently owned by corporate insiders.
Wynn Resorts Profile
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Free Report)
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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