D.A. Davidson & CO. Acquires 5,771 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

D.A. Davidson & CO. lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 236.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,214 shares of the casino operator's stock after purchasing an additional 5,771 shares during the quarter. D.A. Davidson & CO.'s holdings in Wynn Resorts were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Wynn Resorts in the 4th quarter worth about $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in Wynn Resorts in the 4th quarter worth about $101,375,000. DAVENPORT & Co LLC purchased a new position in Wynn Resorts in the 1st quarter worth about $49,476,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after buying an additional 485,204 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Wynn Resorts by 108.5% in the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after buying an additional 441,558 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company'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 completion of the transaction, the director directly owned 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is owned by insiders.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded down $0.76 during mid-day trading on Friday, reaching $111.17. 1,207,241 shares of the company traded hands, compared to its average volume of 2,603,787. The company's 50 day moving average price is $92.94 and its 200-day moving average price is $86.34. The firm has a market cap of $11.62 billion, a PE ratio of 30.88, a PEG ratio of 3.22 and a beta of 1.37. 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 announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm posted $1.59 earnings per share. The company's revenue was down 8.7% compared to the same quarter last year. On average, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.25 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.90%. Wynn Resorts's payout ratio is 27.78%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WYNN shares. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target for the company. UBS Group restated a "neutral" rating and set a $101.00 price target (up from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th. The Goldman Sachs Group started coverage on Wynn Resorts in a research note on Monday, July 7th. They set a "buy" rating and a $122.00 price target for the company. Finally, Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $112.71.

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.