Orvieto Partners L.P. Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Orvieto Partners L.P. bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the casino operator's stock, valued at approximately $4,308,000. Wynn Resorts comprises 3.6% of Orvieto Partners L.P.'s investment portfolio, making the stock its 11th largest holding.

Several other hedge funds have also modified their holdings of the stock. Fifth Third Bancorp lifted its holdings in shares of Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock valued at $188,000 after purchasing an additional 119 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after acquiring an additional 122 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Wynn Resorts by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock worth $2,681,000 after acquiring an additional 142 shares in the last quarter. Metis Global Partners LLC lifted its stake in Wynn Resorts by 5.0% in the 4th quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator's stock worth $275,000 after acquiring an additional 152 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Wynn Resorts by 1.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator's stock worth $844,000 after acquiring an additional 176 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the acquisition, the insider now owns 12,600,000 shares in the company, valued at $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 438,700 shares of company stock worth $31,300,943 over the last three months. Company insiders own 0.52% of the company's stock.

Wynn Resorts Trading Down 1.3 %

WYNN traded down $1.05 during midday trading on Tuesday, reaching $81.15. The company's stock had a trading volume of 594,917 shares, compared to its average volume of 2,477,605. The stock has a market cap of $8.62 billion, a P/E ratio of 19.33, a PEG ratio of 2.35 and a beta of 1.53. The company has a fifty day simple moving average of $81.86 and a 200 day simple moving average of $86.73. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced 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 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 the consensus estimate of $1.78 billion. Sell-side 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 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 annualized dividend and a yield of 1.23%. The ex-dividend date was Monday, February 24th. Wynn Resorts's dividend payout ratio is 23.75%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays reduced their price objective on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Mizuho increased their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. Macquarie reissued an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and upped their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $118.17.

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.