Alyeska Investment Group L.P. Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Alyeska Investment Group L.P. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 712.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 481,459 shares of the casino operator's stock after purchasing an additional 422,174 shares during the period. Alyeska Investment Group L.P. owned approximately 0.44% of Wynn Resorts worth $41,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WYNN. Fifth Third Bancorp lifted its holdings in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock valued at $188,000 after acquiring an additional 119 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 122 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Wynn Resorts by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock worth $2,681,000 after buying an additional 142 shares during the last quarter. Metis Global Partners LLC raised its position in Wynn Resorts by 5.0% in the fourth 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 during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Wynn Resorts by 1.8% during 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 during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Mizuho increased their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, February 14th. Barclays lowered their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Macquarie restated an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average price target of $118.17.

Wynn Resorts Trading Up 0.7 %

WYNN traded up $0.54 during trading hours on Tuesday, hitting $83.52. The company's stock had a trading volume of 2,991,978 shares, compared to its average volume of 2,487,319. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 2.35 and a beta of 1.33. The business's 50-day moving average price is $80.78 and its 200-day moving average price is $86.05. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company's quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 EPS. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is presently 23.75%.

Insiders Place Their Bets

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the purchase, the insider now directly owns 13,000,000 shares in the company, valued at $879,060,000. The trade was a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were acquired 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 approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 438,700 shares of company stock worth $31,300,943 over the last quarter. Company insiders own 0.52% of the company's stock.

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.