20,244 Shares in Wynn Resorts, Limited (NASDAQ:WYNN) Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,244 shares of the casino operator's stock, valued at approximately $1,690,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. increased its holdings in shares of Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after buying an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after purchasing an additional 409 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts during the fourth quarter worth $36,000. Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts in the 4th quarter valued at $45,000. Finally, Garde Capital Inc. bought a new stake in Wynn Resorts in the 1st quarter valued at $73,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Activity

In other news, major shareholder Tilman J. Fertitta bought 100,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average price 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 of the company's stock, valued at approximately $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 SEC, which is available at this link. Also, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director now directly owns 3,066 shares of the company's stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.52% of the company's stock.

Wynn Resorts Trading Up 2.2%

NASDAQ WYNN opened at $94.68 on Friday. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 2.62 and a beta of 1.37. The firm's 50 day simple moving average is $87.70 and its 200 day simple moving average is $85.28. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned $1.59 EPS. The business's quarterly revenue was down 8.7% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

WYNN has been the topic of several research reports. Barclays cut their price objective 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. Bank of America raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. initiated coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target on the stock. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a research note on Wednesday, May 7th. Finally, Citigroup upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of "Moderate Buy" and an average price target of $112.82.

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.

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.