Janney Montgomery Scott LLC Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Janney Montgomery Scott LLC raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 404.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 47,566 shares of the casino operator's stock after purchasing an additional 38,144 shares during the period. Janney Montgomery Scott LLC's holdings in Wynn Resorts were worth $3,972,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the 4th quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Wynn Resorts by 3,408.3% in the 1st 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 in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts during the fourth quarter valued at about $45,000. Venturi Wealth Management LLC lifted its position in shares of Wynn Resorts by 15.0% in 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 in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Wynn Resorts by 1,100.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,200 shares of the casino operator's stock worth $100,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Up 2.2%

NASDAQ WYNN traded up $2.04 during trading hours on Friday, hitting $94.68. 2,626,393 shares of the company were exchanged, compared to its average volume of 2,581,343. The stock has a market cap of $9.90 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.60 and a beta of 1.37. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The stock has a 50-day moving average price of $87.30 and a 200 day moving average price of $85.28.

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 for the quarter, missing the consensus estimate 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 net margin of 6.17% and a negative return on equity of 62.13%. The business's quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 EPS. As a group, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders 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 dividend yield of 1.06%. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.

Analyst Ratings Changes

A number of research analysts recently commented on WYNN shares. Barclays lowered their price target on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research report on Wednesday, May 7th. JPMorgan Chase & Co. assumed coverage on shares of Wynn Resorts in a research note on Monday. They set an "overweight" rating and a $109.00 target price for the company. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and an average target price of $112.82.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were bought at an average price of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider now directly owns 13,000,000 shares of the company's stock, valued at $879,060,000. The trade was a 0.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts 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 sale, the director now owns 3,066 shares of the company's stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.