Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. has increased its stake in Wynn Resorts by 73.3%, now owning 58,618 shares valued at approximately $4.89 million as of the latest SEC filing.
• Analysts have set varied price targets for Wynn Resorts, with a consensus target of $118.64 and a majority rating it as a "Moderate Buy."
• The company recently declared a quarterly dividend of $0.25 per share, which equates to an annual yield of 0.9%.

Cookson Peirce & Co. Inc. increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 73.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,618 shares of the casino operator's stock after purchasing an additional 24,790 shares during the quarter. Cookson Peirce & Co. Inc. owned 0.06% of Wynn Resorts worth $4,895,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WYNN. Jericho Capital Asset Management L.P. acquired a new position in Wynn Resorts during the fourth quarter worth $101,375,000. DAVENPORT & Co LLC acquired a new position in shares of Wynn Resorts in the first quarter worth $49,476,000. Nuveen LLC acquired a new position in shares of Wynn Resorts in the first quarter worth $41,731,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after acquiring an additional 485,204 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Wynn Resorts by 108.5% in the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after acquiring an additional 441,558 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price target for the company. Mizuho boosted their price target on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a report on Monday. Citigroup reissued a "neutral" rating and issued a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Barclays boosted their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Morgan Stanley lifted their price objective on Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $118.64.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.52% of the company's stock.

Wynn Resorts Trading Down 0.6%

WYNN stock opened at $111.82 on Thursday. The stock has a 50-day moving average price of $101.24 and a two-hundred day moving average price of $90.23. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $112.57. The company has a market cap of $11.63 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 5.98 and a beta of 1.41.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the firm posted $1.12 EPS. Wynn Resorts's revenue was up .6% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts's payout ratio is 30.03%.

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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