Rhumbline Advisers Grows Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Rhumbline Advisers lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,468 shares of the casino operator's stock after purchasing an additional 22,875 shares during the period. Rhumbline Advisers owned 0.17% of Wynn Resorts worth $15,069,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WYNN. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts during the 4th quarter worth about $36,000. Spire Wealth Management grew its stake in Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after buying an additional 234 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Wynn Resorts in the 4th quarter valued at about $45,000. Venturi Wealth Management LLC grew its position in shares of Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after purchasing an additional 122 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in shares of Wynn Resorts by 1,100.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 1,200 shares of the casino operator's stock worth $100,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays cut their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research report on Wednesday, May 7th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Macquarie reiterated an "outperform" rating and set a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $113.18.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock traded up $0.85 during trading on Wednesday, hitting $87.52. The company's stock had a trading volume of 2,010,368 shares, compared to its average volume of 2,594,133. The company has a fifty day simple moving average of $83.69 and a two-hundred day simple moving average of $85.68. The company has a market capitalization of $9.15 billion, a PE ratio of 20.79, a P/E/G ratio of 2.35 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.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data 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 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the business posted $1.59 earnings per share. The firm's revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.14%. Wynn Resorts's payout ratio is currently 27.78%.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,262 shares of the business's 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 owns 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Tilman J. Fertitta bought 300,000 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $70.37 per share, for a total transaction of $21,111,000.00. Following the acquisition, the insider now directly owns 12,900,000 shares of the company's stock, valued at approximately $907,773,000. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 416,500 shares of company stock worth $29,254,547 over the last three months. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Company 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.