Townsend Asset Management Corp NC ADV Purchases 3,581 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Townsend Asset Management Corp NC ADV grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,540 shares of the casino operator's stock after purchasing an additional 3,581 shares during the quarter. Wynn Resorts makes up approximately 1.4% of Townsend Asset Management Corp NC ADV's holdings, making the stock its 23rd biggest holding. Townsend Asset Management Corp NC ADV's holdings in Wynn Resorts were worth $3,719,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its holdings in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wynn Resorts during the 4th quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Wynn Resorts by 3,408.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after acquiring an additional 409 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $45,000. Finally, Venturi Wealth Management LLC boosted its stake in 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 acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WYNN. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Wall Street Zen lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Mizuho dropped their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Barclays cut their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $113.00 price objective on shares of Wynn Resorts in a research report on Wednesday, May 7th. Three 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 has an average rating of "Moderate Buy" and a consensus price target of $113.18.

Wynn Resorts Stock Performance

Shares of WYNN opened at $86.91 on Thursday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.47 and a beta of 1.37. The business's fifty day moving average is $85.33 and its 200-day moving average is $85.48.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results 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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The business's revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. As a group, research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors 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 1.15%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio is 27.78%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the stock in a transaction dated Monday, April 7th. The stock was purchased at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider now owns 13,000,000 shares in the company, valued at approximately $879,060,000. The trade was a 0.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 416,500 shares of company stock valued at $29,254,547 in the last quarter. Insiders own 0.52% of the company's stock.

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.

Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.