GAMMA Investing LLC Purchases 263,564 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

GAMMA Investing LLC grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 9,135.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 266,449 shares of the casino operator's stock after buying an additional 263,564 shares during the period. GAMMA Investing LLC owned approximately 0.25% of Wynn Resorts worth $22,248,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in WYNN. Norges Bank bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $117,352,000. Jericho Capital Asset Management L.P. acquired a new stake in Wynn Resorts during the fourth quarter worth $101,375,000. Raymond James Financial Inc. acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $75,872,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of 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 valued at $269,308,000 after buying an additional 485,204 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Wynn Resorts by 108.5% during the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after acquiring an additional 441,558 shares during the period. Institutional investors own 88.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho lowered their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a research note on Wednesday, May 7th. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and a consensus target price of $113.18.

Wynn Resorts Stock Up 0.1%

Shares of NASDAQ:WYNN traded up $0.06 during mid-day trading on Friday, reaching $83.30. 3,151,222 shares of the stock were exchanged, compared to its average volume of 2,585,102. The stock's 50 day simple moving average is $82.99 and its 200-day simple moving average is $85.84. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81. The company has a market cap of $8.71 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business 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 company's quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 earnings per share. Analysts anticipate 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. Shareholders of record on Friday, May 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 1.20%. Wynn Resorts's dividend payout ratio is currently 27.78%.

Insider Buying and Selling

In other Wynn Resorts news, major shareholder Tilman J. Fertitta bought 11,475 shares of the firm's stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the transaction, the insider now directly owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. This trade represents a 0.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts 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 sale, the director now owns 3,066 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders bought 416,500 shares of company stock valued at $29,254,547. Insiders own 0.52% of the company's stock.

Wynn Resorts 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.