Wynn Resorts, Limited (NASDAQ:WYNN) Shares Acquired by Black Diamond Capital Management L.L.C.

Black Diamond Capital Management L.L.C. grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 10.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 107,012 shares of the casino operator's stock after buying an additional 10,000 shares during the period. Wynn Resorts accounts for approximately 5.0% of Black Diamond Capital Management L.L.C.'s portfolio, making the stock its 8th largest position. Black Diamond Capital Management L.L.C. owned about 0.10% of Wynn Resorts worth $9,220,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State of Tennessee Department of Treasury raised 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 worth $2,050,000 after buying an additional 10,041 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Wynn Resorts by 190.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after purchasing an additional 12,993 shares during the period. Brandywine Global Investment Management LLC acquired a new position in Wynn Resorts during the 4th quarter worth approximately $5,216,000. Alliancebernstein L.P. raised its stake in shares of Wynn Resorts by 12.4% during the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after buying an additional 13,553 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $75,872,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 100,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $67.62 per share, with a total value of $6,762,000.00. Following the purchase, the insider now owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 438,700 shares of company stock worth $31,300,943 over the last quarter. 0.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on WYNN. Morgan Stanley cut their price objective on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Barclays lowered their target price on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus boosted their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Macquarie reissued an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $118.17.

Wynn Resorts Price Performance

NASDAQ:WYNN traded up $2.45 during mid-day trading on Friday, reaching $82.49. The company's stock had a trading volume of 1,597,195 shares, compared to its average volume of 2,479,773. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The company's fifty day simple moving average is $81.21 and its two-hundred day simple moving average is $86.48. The stock has a market cap of $8.76 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released 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. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.21%. Wynn Resorts's payout ratio is 23.75%.

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.