Lazari Capital Management Inc. Grows Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Lazari Capital Management Inc. increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 21.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,723 shares of the casino operator's stock after buying an additional 5,164 shares during the period. Wynn Resorts accounts for 1.0% of Lazari Capital Management Inc.'s holdings, making the stock its 19th biggest position. Lazari Capital Management Inc.'s holdings in Wynn Resorts were worth $2,482,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury lifted its holdings in Wynn Resorts by 73.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after purchasing an additional 10,041 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Wynn Resorts by 190.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after buying an additional 12,993 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Wynn Resorts in the 4th quarter valued at about $2,296,000. Brandywine Global Investment Management LLC purchased a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $5,216,000. Finally, Alliancebernstein L.P. lifted its position in shares of Wynn Resorts by 12.4% in the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock valued at $10,577,000 after acquiring an additional 13,553 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

WYNN traded up $1.27 during trading on Tuesday, reaching $90.97. The company's stock had a trading volume of 1,755,066 shares, compared to its average volume of 2,577,939. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The company's fifty day moving average price is $86.58 and its 200-day moving average price is $85.26. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 2.53 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results 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). Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The firm's quarterly revenue was down 8.7% compared to the same quarter last year. Equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is 27.78%.

Insider Transactions at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta bought 300,000 shares of Wynn Resorts stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $70.37 per share, with a total value of $21,111,000.00. Following the purchase, the insider now owns 12,900,000 shares in the company, valued at $907,773,000. This represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director now directly owns 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WYNN shares. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Wednesday, May 7th. Mizuho reduced their price target on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.