Mackenzie Financial Corp Invests $282,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Mackenzie Financial Corp bought 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 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,268 shares of the casino operator's stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in Wynn Resorts during the 4th quarter valued at $36,000. Spire Wealth Management boosted its stake in shares of Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after purchasing an additional 234 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Wynn Resorts during the fourth quarter valued at about $45,000. Venturi Wealth Management LLC raised its stake in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after buying an additional 122 shares in the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new stake in Wynn Resorts in the fourth quarter worth about $115,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN traded up $0.06 during trading on Friday, reaching $83.30. 3,151,222 shares of the stock traded hands, compared to its average volume of 2,585,102. The stock has a market cap of $8.71 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The stock has a 50-day moving average of $82.99 and a two-hundred day moving average of $85.84. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81.

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

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is 27.78%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WYNN. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and upped their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, May 7th. Barclays decreased their price objective on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Macquarie reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Morgan Stanley decreased their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.18.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director now directly owns 3,066 shares of the company's stock, valued at $282,439.92. This represents a 42.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tilman J. Fertitta acquired 5,025 shares of Wynn Resorts stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. The trade was a 0.05% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 416,500 shares of company stock worth $29,254,547. Company insiders own 0.52% of the company's stock.

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.