Exchange Traded Concepts LLC Purchases 5,168 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Exchange Traded Concepts LLC raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 37.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,979 shares of the casino operator's stock after acquiring an additional 5,168 shares during the period. Exchange Traded Concepts LLC's holdings in Wynn Resorts were worth $1,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after acquiring an additional 409 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the fourth quarter valued at $36,000. Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts during the fourth quarter valued at $45,000. Venturi Wealth Management LLC increased its position in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after acquiring an additional 122 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its position in Wynn Resorts by 1,100.0% during the first quarter. Central Pacific Bank Trust Division now owns 1,200 shares of the casino operator's stock valued at $100,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WYNN shares. Morgan Stanley cut their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Barclays cut their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Citigroup upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Finally, Mizuho cut their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $113.18.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $86.91 on Thursday. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81. The company has a 50-day moving average of $85.33 and a 200 day moving average of $85.48. The firm has a market cap of $9.09 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.47 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released 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). The business had revenue of $1.70 billion during 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 firm's revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.59 earnings per share. Sell-side 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 was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

Insider Buying and Selling at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the firm's stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $84.93 per share, with a total value of $974,571.75. Following the completion of the transaction, the insider now owns 12,600,000 shares in the company, valued at $1,070,118,000. This represents a 0.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of the 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 now directly owns 3,066 shares of the company's stock, valued at $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 416,500 shares of company stock valued at $29,254,547. 0.52% of the stock is currently owned by insiders.

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.

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