Wynn Resorts, Limited (NASDAQ:WYNN) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 21.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,738 shares of the casino operator's stock after purchasing an additional 4,134 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Wynn Resorts were worth $1,982,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the firm's stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the purchase, the insider directly owned 13,000,000 shares of the company's stock, valued at approximately $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of the business's 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 completion of the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $0.84 during trading hours on Friday, reaching $105.52. The company's stock had a trading volume of 1,407,270 shares, compared to its average volume of 2,598,311. The company's 50-day moving average is $89.56 and its two-hundred day moving average is $85.51. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The stock has a market cap of $11.03 billion, a PE ratio of 29.31, a PEG ratio of 3.03 and a beta of 1.37.

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 for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the business earned $1.59 earnings per share. The company's revenue for the quarter was down 8.7% on a year-over-year basis. Equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WYNN. JPMorgan Chase & Co. assumed coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Mizuho cut their target price on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research report on Wednesday, May 7th. Finally, Argus lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock 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.