Worldquant Millennium Advisors LLC Purchases New Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Worldquant Millennium Advisors LLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 167,280 shares of the casino operator's stock, valued at approximately $14,413,000. Worldquant Millennium Advisors LLC owned 0.15% of Wynn Resorts at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WYNN. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts during the fourth quarter worth about $36,000. Spire Wealth Management boosted its stake in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after acquiring an additional 234 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts during the fourth quarter worth about $45,000. Finally, Venturi Wealth Management LLC boosted its stake in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock worth $81,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Down 2.4%

Shares of Wynn Resorts stock opened at $91.50 on Thursday. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The company's 50 day moving average is $82.00 and its 200 day moving average is $85.77. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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 company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company earned $1.59 EPS. The firm's revenue for the quarter was down 8.7% on a year-over-year basis. Sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. Wynn Resorts's dividend payout ratio is currently 27.78%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Citigroup upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Macquarie reiterated an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Barclays dropped their target price 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. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.92.

Insider Buying and Selling at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 5,025 shares of Wynn Resorts stock in a transaction dated Friday, March 21st. The stock was purchased at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the purchase, the insider now directly owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This trade represents a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 416,500 shares of company stock valued at $29,254,547. Insiders own 0.52% of the company's stock.

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.

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.