Wedge Capital Management L L P NC Has $4.74 Million Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Wedge Capital Management L L P NC lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 19.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 56,807 shares of the casino operator's stock after buying an additional 9,298 shares during the quarter. Wedge Capital Management L L P NC owned about 0.05% of Wynn Resorts worth $4,743,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its stake 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 buying an additional 122 shares during the last quarter. BOKF NA increased its position in Wynn Resorts by 3.9% during the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator's stock worth $289,000 after acquiring an additional 132 shares during the period. Snowden Capital Advisors LLC increased its position in Wynn Resorts by 5.6% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock worth $223,000 after acquiring an additional 138 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Wynn Resorts by 0.5% during the fourth 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 period. Finally, Grassi Investment Management increased its position in Wynn Resorts by 4.2% during the first quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock worth $308,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent research reports. Barclays lowered 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 report on Tuesday, April 22nd. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Wall Street Zen lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Morgan Stanley lowered their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Finally, Argus lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus price target of $113.18.

Wynn Resorts Trading Up 0.1%

Shares of NASDAQ:WYNN opened at $83.30 on Monday. The firm has a 50 day moving average of $83.00 and a 200-day moving average of $85.70. The stock has a market capitalization of $8.71 billion, a PE ratio of 19.79, a PEG ratio of 2.35 and a beta of 1.37. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. On average, research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, May 16th. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the sale, the director now directly owns 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the acquisition, the insider now directly owns 12,600,000 shares in the company, valued at $1,070,118,000. The trade was a 0.09% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 416,500 shares of company stock valued at $29,254,547. 0.52% of the stock is owned by insiders.

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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