Baker Avenue Asset Management LP Buys Shares of 9,179 Wynn Resorts, Limited (NASDAQ:WYNN)

Baker Avenue Asset Management LP acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,179 shares of the casino operator's stock, valued at approximately $791,000.

Other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. raised its holdings in Wynn Resorts by 712.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 481,459 shares of the casino operator's stock worth $41,483,000 after purchasing an additional 422,174 shares during the period. Aristeia Capital L.L.C. bought a new position in shares of Wynn Resorts in the fourth quarter worth about $413,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Wynn Resorts during the 4th quarter valued at about $101,375,000. Black Diamond Capital Management L.L.C. grew its stake in shares of Wynn Resorts by 10.3% during the 4th quarter. Black Diamond Capital Management L.L.C. now owns 107,012 shares of the casino operator's stock valued at $9,220,000 after acquiring an additional 10,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its holdings in Wynn Resorts by 370.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 39,959 shares of the casino operator's stock worth $3,443,000 after acquiring an additional 31,466 shares in the last quarter. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WYNN. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday. Stifel Nicolaus set a $113.00 price target on Wynn Resorts in a report on Wednesday. Mizuho dropped their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Barclays decreased their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $112.92.

Insider Transactions at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta bought 100,000 shares of the stock in a transaction on Monday, April 7th. The stock was acquired at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the acquisition, the insider now owns 13,000,000 shares of the company's stock, valued at $879,060,000. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company's stock, valued at $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 ninety days, insiders acquired 438,700 shares of company stock worth $31,300,943. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $1.34 on Friday, hitting $87.93. 3,216,434 shares of the stock were exchanged, compared to its average volume of 2,490,703. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The firm has a market capitalization of $9.34 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.35 and a beta of 1.33. The stock has a fifty day moving average price of $80.65 and a two-hundred day moving average price of $85.88.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts's revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 earnings per share. Sell-side analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, May 16th. Wynn Resorts's payout ratio is currently 27.78%.

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.