Janney Montgomery Scott LLC Buys 38,144 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Janney Montgomery Scott LLC grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 404.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WYNN. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Wynn Resorts by 18.4% in the fourth 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. Geode Capital Management LLC boosted its holdings in shares of Wynn Resorts by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after acquiring an additional 26,792 shares in the last quarter. Jefferies Financial Group Inc. grew its position in Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock worth $145,059,000 after acquiring an additional 139,270 shares during the last quarter. Renaissance Technologies LLC grew its position in Wynn Resorts by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock worth $139,300,000 after acquiring an additional 228,000 shares during the last quarter. Finally, Norges Bank acquired a new position in Wynn Resorts in the 4th quarter worth about $117,352,000. 88.64% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Tilman J. Fertitta acquired 100,000 shares of Wynn Resorts stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the purchase, the insider now owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. The trade was a 0.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now directly owns 3,066 shares in the company, 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. Company insiders own 0.52% of the company's stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $89.70 on Tuesday. The stock has a market capitalization of $9.38 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.50 and a beta of 1.37. The business has a 50 day simple moving average of $86.25 and a 200 day simple moving average of $85.22. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business earned $1.59 EPS. The business's quarterly revenue was down 8.7% compared to the same quarter last year. Equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of recent research reports. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Wednesday, May 7th. Barclays reduced their target price 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 research report on Wednesday, May 7th. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $112.82.

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.

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