Eminence Capital LP Invests $13.56 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Eminence Capital LP bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 157,320 shares of the casino operator's stock, valued at approximately $13,555,000. Eminence Capital LP owned about 0.14% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury grew its holdings in shares of Wynn Resorts by 73.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after purchasing an additional 10,041 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings 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. Susquehanna Fundamental Investments LLC acquired a new position in Wynn Resorts during the 4th quarter worth $2,296,000. Brandywine Global Investment Management LLC purchased a new stake in Wynn Resorts during the 4th quarter worth about $5,216,000. Finally, Alliancebernstein L.P. grew its position in shares of Wynn Resorts by 12.4% during the fourth 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. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought 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 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta bought 100,000 shares of the business's stock in a transaction dated Monday, April 7th. The shares were acquired 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 owns 13,000,000 shares in the company, valued at approximately $879,060,000. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 438,700 shares of company stock worth $31,300,943. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Morgan Stanley dropped their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, February 14th. Macquarie reiterated an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Finally, StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.17.

Wynn Resorts Trading Up 0.7 %

Shares of WYNN opened at $83.52 on Wednesday. The company's 50 day simple moving average is $80.78 and its 200-day simple moving average is $86.05. The firm has a market cap of $8.87 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. 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 issued its quarterly earnings data 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 negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the business posted $1.59 earnings per share. The company's revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given 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 yield of 1.20%. Wynn Resorts's payout ratio is 23.75%.

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.

Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.