AE Wealth Management LLC Buys Shares of 59,166 Wynn Resorts, Limited (NASDAQ:WYNN)

AE Wealth Management LLC bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 59,166 shares of the casino operator's stock, valued at approximately $4,940,000. AE Wealth Management LLC owned about 0.06% of Wynn Resorts at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. American Assets Inc. raised its stake in Wynn Resorts by 52.2% in the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock worth $879,000 after acquiring an additional 3,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Wynn Resorts by 17.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151,270 shares of the casino operator's stock worth $12,604,000 after acquiring an additional 22,425 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of Wynn Resorts by 1,887.8% during the 4th quarter. WINTON GROUP Ltd now owns 79,374 shares of the casino operator's stock valued at $6,839,000 after buying an additional 75,381 shares during the last quarter. Elo Mutual Pension Insurance Co purchased a new position in shares of Wynn Resorts during the 4th quarter valued at about $957,000. Finally, BIT Capital GmbH purchased a new position in shares of Wynn Resorts during the 4th quarter valued at about $781,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research note on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Mizuho lowered their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, The Goldman Sachs Group assumed coverage on Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.71.

Wynn Resorts Price Performance

Shares of WYNN stock traded up $0.99 during trading on Friday, hitting $109.44. 1,463,424 shares of the stock traded hands, compared to its average volume of 1,911,695. The firm has a market capitalization of $11.44 billion, a P/E ratio of 30.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.37. The firm's fifty day moving average price is $96.51 and its 200-day moving average price is $87.93. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $112.36.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The firm's quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.59 EPS. As a group, equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Friday, May 16th. Wynn Resorts's payout ratio is presently 27.78%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction that occurred 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 sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company's stock.

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.