Jericho Capital Asset Management L.P. Makes New $101.38 Million Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Jericho Capital Asset Management L.P. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,176,591 shares of the casino operator's stock, valued at approximately $101,375,000. Wynn Resorts makes up approximately 1.4% of Jericho Capital Asset Management L.P.'s holdings, making the stock its 23rd largest holding. Jericho Capital Asset Management L.P. owned approximately 1.07% of Wynn Resorts at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of Wynn Resorts during the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new position in Wynn Resorts in the 3rd quarter worth $31,000. SBI Securities Co. Ltd. purchased a new stake in Wynn Resorts in the fourth quarter worth about $36,000. Spire Wealth Management lifted its stake in shares of Wynn Resorts by 116.4% in 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 shares of Wynn Resorts during the 4th quarter valued at $45,000. Institutional investors own 88.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays dropped their price target on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Macquarie reissued an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus increased their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Mizuho boosted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $118.17.

Insider Activity

In other news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company's stock in a transaction that occurred on 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 purchase, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This trade represents a 0.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip G. Satre purchased 22,200 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Trading Up 3.1 %

WYNN traded up $2.45 during trading hours on Friday, hitting $82.49. The company's stock had a trading volume of 1,597,195 shares, compared to its average volume of 2,479,773. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.35 and a beta of 1.53. The business's 50-day moving average price is $81.21 and its 200-day moving average price is $86.48. 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 posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is 23.75%.

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.