Wynn Resorts, Limited (NASDAQ:WYNN) is Black Diamond Capital Management L.L.C.'s 8th Largest Position

Black Diamond Capital Management L.L.C. increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,012 shares of the casino operator's stock after purchasing an additional 10,000 shares during the period. Wynn Resorts makes up approximately 5.0% of Black Diamond Capital Management L.L.C.'s portfolio, making the stock its 8th biggest holding. Black Diamond Capital Management L.L.C. owned approximately 0.10% of Wynn Resorts worth $9,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WYNN. State of Tennessee Department of Treasury boosted its position in Wynn Resorts by 73.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after buying an additional 10,041 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Wynn Resorts by 190.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock worth $1,706,000 after purchasing an additional 12,993 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of Wynn Resorts in the fourth quarter worth about $5,216,000. Alliancebernstein L.P. increased its holdings in Wynn Resorts by 12.4% during the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock valued at $10,577,000 after purchasing an additional 13,553 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Wynn Resorts during the 4th quarter valued at approximately $75,872,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WYNN. Mizuho boosted 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. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Macquarie reaffirmed an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Finally, Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Three equities 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.17.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction dated 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 completion of the acquisition, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Tilman J. Fertitta acquired 100,000 shares of the business's 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 transaction, 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 disclosure for this purchase can be found here. In the last ninety days, insiders have bought 438,700 shares of company stock worth $31,300,943. Insiders own 0.52% of the company's stock.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock traded up $2.45 during trading on Friday, reaching $82.49. 1,597,195 shares of the stock traded hands, compared to its average volume of 2,484,419. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The business has a fifty day simple moving average of $81.04 and a two-hundred day simple moving average of $86.27.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Wynn Resorts's dividend payout ratio is presently 23.75%.

Wynn Resorts 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.