D.A. Davidson & CO. Grows Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

D.A. Davidson & CO. raised its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 236.2% during the 1st quarter, according to its most recent 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 SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WYNN. State of Tennessee Department of Treasury increased its holdings in Wynn Resorts by 73.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after purchasing an additional 10,041 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Wynn Resorts by 190.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after buying an additional 12,993 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at $2,296,000. Brandywine Global Investment Management LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at $5,216,000. Finally, Alliancebernstein L.P. lifted its stake in Wynn Resorts by 12.4% during the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after acquiring an additional 13,553 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction 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 owned 3,066 shares in the company, valued at approximately $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WYNN shares. UBS Group reiterated 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. Citigroup reaffirmed a "neutral" rating and set a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday. Barclays dropped their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group started coverage on Wynn Resorts in a research note on Monday. They issued a "buy" rating and a $122.00 price objective on the stock. Finally, Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $112.71.

Wynn Resorts Stock Up 1.7%

NASDAQ:WYNN traded up $1.85 during trading hours on Thursday, reaching $111.93. 2,031,121 shares of the company's stock were exchanged, compared to its average volume of 2,599,597. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $112.34. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 3.19 and a beta of 1.37. The company has a 50-day moving average of $91.73 and a 200 day moving average of $86.04.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business's quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 EPS. Research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Friday, May 16th. Wynn Resorts's dividend payout ratio is presently 27.78%.

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.