Citigroup Inc. Acquires 54,653 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Citigroup Inc. boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 164,035 shares of the casino operator's stock after buying an additional 54,653 shares during the period. Citigroup Inc. owned approximately 0.15% of Wynn Resorts worth $13,697,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WYNN. Global X Japan Co. Ltd. raised its position in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. 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 worth $35,000 after buying an additional 409 shares during the period. Canada Post Corp Registered Pension Plan purchased a new position in shares of Wynn Resorts in the fourth quarter worth about $45,000. Garde Capital Inc. purchased a new position in shares of Wynn Resorts in the first quarter worth about $73,000. Finally, Mather Group LLC. increased its holdings in shares of Wynn Resorts by 32.7% in the first quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock worth $75,000 after buying an additional 221 shares during the period. Institutional investors own 88.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on WYNN shares. UBS Group reiterated a "neutral" rating and issued a $101.00 price objective (up previously from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. Jefferies Financial Group lifted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target on the stock. Finally, Barclays boosted their price target on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.64.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the sale, the director directly owned 3,066 shares of the company's stock, valued at $282,439.92. The trade was a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Trading Down 1.7%

Wynn Resorts stock traded down $1.93 during trading hours on Friday, hitting $109.45. 1,496,814 shares of the stock traded hands, compared to its average volume of 1,878,596. The firm's 50-day moving average price is $102.32 and its two-hundred day moving average price is $90.63. The company has a market cap of $11.38 billion, a PE ratio of 32.87, a PEG ratio of 5.82 and a beta of 1.41. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $112.57.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The business's revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a $0.25 dividend. 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 payout ratio is currently 30.03%.

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.