Victory Capital Management Inc. Purchases 12,992 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Victory Capital Management Inc. lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 359.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,605 shares of the casino operator's stock after purchasing an additional 12,992 shares during the quarter. Victory Capital Management Inc.'s holdings in Wynn Resorts were worth $1,513,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Waycross Partners LLC purchased a new stake in Wynn Resorts in the 4th quarter valued at approximately $1,230,000. Vanguard Capital Wealth Advisors acquired a new position in Wynn Resorts during the fourth quarter worth $323,000. Kestra Private Wealth Services LLC raised its position in Wynn Resorts by 9.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,597 shares of the casino operator's stock worth $692,000 after acquiring an additional 634 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Wynn Resorts by 51.8% in the fourth quarter. Van ECK Associates Corp now owns 55,787 shares of the casino operator's stock valued at $5,083,000 after acquiring an additional 19,031 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Wynn Resorts by 83.1% during the 4th quarter. Russell Investments Group Ltd. now owns 22,273 shares of the casino operator's stock worth $2,034,000 after purchasing an additional 10,107 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

WYNN stock traded down $0.07 during midday trading on Friday, hitting $96.79. The stock had a trading volume of 1,072,614 shares, compared to its average volume of 1,743,150. Wynn Resorts, Limited has a 12-month low of $81.65 and a 12-month high of $112.25. The firm has a market cap of $10.85 billion, a PE ratio of 13.26 and a beta of 1.91. The company's 50-day moving average price is $99.73 and its 200 day moving average price is $95.87.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The business's quarterly revenue was up 30.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.58 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts's dividend payout ratio is presently 13.70%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WYNN. Barclays raised their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an "overweight" rating in a research note on Thursday, May 9th. StockNews.com raised Wynn Resorts from a "hold" rating to a "buy" rating in a research note on Friday. UBS Group dropped their price objective on Wynn Resorts from $117.00 to $108.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. Macquarie upped their target price on Wynn Resorts from $122.00 to $128.00 and gave the company an "outperform" rating in a report on Friday, February 9th. Finally, Morgan Stanley raised their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.62.

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.