Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,000 shares of the casino operator's stock after buying an additional 7,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.07% of Wynn Resorts worth $6,430,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Wynn Resorts during the fourth quarter worth about $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in Wynn Resorts in the 4th quarter valued at about $101,375,000. Raymond James Financial Inc. acquired a new stake in Wynn Resorts during the fourth quarter worth approximately $75,872,000. DAVENPORT & Co LLC acquired a new stake in shares of Wynn Resorts during the first quarter worth $49,476,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WYNN shares. Barclays reduced their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Mizuho cut their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Wednesday, May 7th. Finally, Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $112.82.

Insider Transactions at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the purchase, the insider directly owned 13,000,000 shares of the company's stock, valued at $879,060,000. This represents a 0.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This represents a 42.45% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Trading Up 0.8%

Shares of WYNN stock opened at $105.52 on Friday. The firm has a fifty day simple moving average of $89.56 and a 200-day simple moving average of $85.51. The company has a market capitalization of $11.03 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. 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 posted its quarterly earnings data 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 business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. Wynn Resorts's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 earnings per share. Equities research 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. Investors of record on Friday, May 16th were paid 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 yield of 0.95%. Wynn Resorts's dividend payout ratio (DPR) 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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