United Advisor Group LLC Takes $367,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

United Advisor Group LLC acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,394 shares of the casino operator's stock, valued at approximately $367,000.

Several other large investors have also bought and sold shares of WYNN. Venturi Wealth Management LLC boosted its position in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after buying an additional 122 shares in the last quarter. BOKF NA lifted its stake in shares of Wynn Resorts by 3.9% in the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator's stock valued at $289,000 after acquiring an additional 132 shares during the last quarter. Snowden Capital Advisors LLC boosted its holdings in shares of Wynn Resorts by 5.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock valued at $223,000 after acquiring an additional 138 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Wynn Resorts by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock worth $2,681,000 after acquiring an additional 142 shares during the last quarter. Finally, Grassi Investment Management increased its holdings in Wynn Resorts by 4.2% in the 1st quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock worth $308,000 after purchasing an additional 150 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Tilman J. Fertitta purchased 300,000 shares of Wynn Resorts 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 completion of the transaction, the insider now owns 12,900,000 shares in the company, valued at $907,773,000. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia Mulroy sold 2,262 shares of the company'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 sale, the director now owns 3,066 shares in the company, valued at approximately $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 411,475 shares of company stock valued at $28,847,572 in the last three months. Company insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WYNN. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Mizuho cut their target price on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley reduced their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.18.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $86.91 on Friday. The company has a 50-day moving average price of $85.63 and a 200-day moving average price of $85.41. The stock has a market capitalization of $9.09 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.46 and a beta of 1.37. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The company had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The company's quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 earnings per share. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, May 16th. Wynn Resorts's payout ratio is 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.

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