Lazari Capital Management Inc. increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,723 shares of the casino operator's stock after purchasing an additional 5,164 shares during the quarter. Wynn Resorts makes up 1.0% of Lazari Capital Management Inc.'s investment portfolio, making the stock its 19th largest holding. Lazari Capital Management Inc.'s holdings in Wynn Resorts were worth $2,482,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC grew its holdings 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 worth $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Wynn Resorts by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock worth $209,120,000 after buying an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. boosted its position in shares of Wynn Resorts by 9.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock worth $145,059,000 after purchasing an additional 139,270 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of 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 buying an additional 228,000 shares during the period. Finally, Norges Bank bought a new stake in Wynn Resorts in the fourth quarter valued at approximately $117,352,000. Institutional investors own 88.64% of the company's stock.
Analyst Ratings Changes
WYNN has been the topic of a number of recent research reports. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Stifel Nicolaus set a $113.00 target price on Wynn Resorts in a report on Wednesday, May 7th. Wall Street Zen cut Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday. They issued an "overweight" rating and a $109.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.82.
Get Our Latest Research Report on Wynn Resorts
Wynn Resorts Stock Up 2.2%
NASDAQ:WYNN traded up $2.04 during midday trading on Friday, hitting $94.68. The company had a trading volume of 2,640,853 shares, compared to its average volume of 2,586,660. The company has a market capitalization of $9.90 billion, a PE ratio of 26.30, a P/E/G 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's fifty day moving average price is $87.30 and its 200-day moving average price is $85.28.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data 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 firm 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%. Wynn Resorts's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 earnings per share. As a group, research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.
Wynn Resorts Dividend Announcement
The firm 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 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is currently 27.78%.
Insider Activity at Wynn Resorts
In related news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction on Thursday, May 29th. The shares were 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 of the company's stock, valued at $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tilman J. Fertitta bought 300,000 shares of Wynn Resorts stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $70.37 per share, for a total transaction of $21,111,000.00. Following the completion of the purchase, the insider now directly owns 12,900,000 shares of the company's stock, valued at approximately $907,773,000. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is owned by insiders.
Wynn Resorts Company Profile
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Free Report)
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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