5,596 Shares in Wynn Resorts, Limited (NASDAQ:WYNN) Acquired by Readystate Asset Management LP

Readystate Asset Management LP bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,596 shares of the casino operator's stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WYNN. Norges Bank bought a new position in shares of Wynn Resorts during the fourth quarter valued at $117,352,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Wynn Resorts during the fourth quarter worth about $101,375,000. DAVENPORT & Co LLC purchased a new stake in shares of Wynn Resorts during the first quarter worth about $49,476,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Wynn Resorts by 18.4% during 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 grew its holdings in Wynn Resorts by 108.5% during the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock valued at $73,118,000 after buying an additional 441,558 shares in the last quarter. Institutional investors own 88.64% of the company's stock.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the firm'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 owned 3,066 shares in the company, valued at $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Barclays set a $127.00 price objective on Wynn Resorts and gave the company an "overweight" rating in a report on Friday, July 18th. UBS Group restated a "neutral" rating and set a $101.00 price objective (up previously from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. 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 report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Four investment 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 a consensus rating of "Moderate Buy" and a consensus target price of $114.71.

Wynn Resorts Trading Up 0.8%

Shares of WYNN stock traded up $0.81 during mid-day trading on Thursday, reaching $108.45. The stock had a trading volume of 2,553,309 shares, compared to its average volume of 1,864,250. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 2.98 and a beta of 1.37. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $112.36. The business's fifty day moving average is $96.26 and its 200-day moving average is $87.74.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results 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 earnings per share. The firm's revenue was down 8.7% on a year-over-year basis. On average, analysts forecast 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 given 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 0.92%. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.

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.