J. Goldman & Co LP Has $2.56 Million Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

J. Goldman & Co LP decreased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 85.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,723 shares of the casino operator's stock after selling 170,332 shares during the period. J. Goldman & Co LP's holdings in Wynn Resorts were worth $2,561,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in WYNN. New Wave Wealth Advisors LLC acquired a new position in shares of Wynn Resorts during the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new stake in Wynn Resorts during the 3rd quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts during the 4th quarter valued at approximately $36,000. Spire Wealth Management boosted its stake in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after purchasing an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts during the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. This trade represents a 185.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Tilman J. Fertitta purchased 100,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the acquisition, the insider now directly owns 13,000,000 shares in the company, valued at approximately $879,060,000. This represents a 0.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 438,700 shares of company stock valued at $31,300,943. Corporate insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

WYNN has been the subject of several recent analyst reports. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Macquarie restated an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Wednesday, May 7th. Morgan Stanley decreased their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus target price of $112.92.

Wynn Resorts Trading Up 1.5%

Shares of WYNN opened at $87.93 on Monday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81. The stock has a 50 day simple moving average of $80.65 and a 200-day simple moving average of $85.71. The stock has a market cap of $9.34 billion, a PE ratio of 20.89, a PEG ratio of 2.35 and a beta of 1.33.

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

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Wynn Resorts's payout ratio is presently 27.78%.

About Wynn Resorts

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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