Banco BTG Pactual S.A. Purchases Shares of 5,500 Wynn Resorts, Limited $WYNN

Key Points

• Banco BTG Pactual S.A. acquired 5,500 shares of Wynn Resorts, valued at approximately $459,000, during the first quarter, indicating institutional interest in the stock.
• Wynn Resorts is trading up 4.3%, with a current stock price of $112.83, and has a market capitalization of $11.73 billion.
• The company recently announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.9%, with a dividend payout ratio of 30.03%.

Banco BTG Pactual S.A. bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,500 shares of the casino operator's stock, valued at approximately $459,000.

Several other hedge funds have also bought and sold shares of WYNN. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Wynn Resorts by 116.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,564 shares of the casino operator's stock worth $1,209,000 after purchasing an additional 7,820 shares during the period. Sand Hill Global Advisors LLC increased its holdings in shares of Wynn Resorts by 84.8% in the 1st quarter. Sand Hill Global Advisors LLC now owns 48,335 shares of the casino operator's stock valued at $4,036,000 after acquiring an additional 22,185 shares during the period. Raymond James Financial Inc. boosted its holdings in Wynn Resorts by 12.7% in the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock worth $82,834,000 after acquiring an additional 111,428 shares in the last quarter. Oder Investment Management LLC acquired a new stake in Wynn Resorts in the first quarter worth about $715,000. Finally, Brandywine Global Investment Management LLC lifted its position in Wynn Resorts by 5.7% during the 1st quarter. Brandywine Global Investment Management LLC now owns 63,989 shares of the casino operator's stock worth $5,343,000 after acquiring an additional 3,447 shares during the period. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Trading Up 4.3%

NASDAQ:WYNN opened at $112.83 on Wednesday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $112.91. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 5.75 and a beta of 1.41. The firm's fifty day simple moving average is $103.31 and its 200 day simple moving average is $90.94.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. On average, analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts's dividend payout ratio (DPR) is presently 30.03%.

Analyst Ratings Changes

WYNN has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group began coverage on Wynn Resorts in a research report on Monday, July 7th. They issued a "buy" rating and a $122.00 price objective for the company. Mizuho increased their price objective on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Finally, 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 note on Wednesday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.64.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by company insiders.

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.