Cetera Investment Advisers Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Cetera Investment Advisers grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 63.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,928 shares of the casino operator's stock after acquiring an additional 12,364 shares during the quarter. Cetera Investment Advisers' holdings in Wynn Resorts were worth $2,751,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WYNN. New Wave Wealth Advisors LLC purchased a new stake in Wynn Resorts in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new position in Wynn Resorts during the 4th quarter valued at about $36,000. Spire Wealth Management raised its position in Wynn Resorts by 116.4% in 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 acquired a new stake in Wynn Resorts in the 4th quarter valued at about $45,000. Finally, Venturi Wealth Management LLC raised its position in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after purchasing an additional 122 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Down 2.9%

Shares of WYNN stock traded down $2.78 during trading on Tuesday, reaching $93.77. 2,068,653 shares of the company's stock were exchanged, compared to its average volume of 2,532,262. The stock has a market capitalization of $9.80 billion, a PE ratio of 22.27, a PEG ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The firm's fifty day moving average price is $81.89 and its 200-day moving average price is $85.73.

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

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling

In related news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was purchased at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the acquisition, the insider now directly owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. The trade was a 0.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have bought 416,500 shares of company stock valued at $29,254,547. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on WYNN. Bank of America raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Wednesday, May 7th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and upped their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Macquarie reiterated an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.92.

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.