Stifel Financial Corp Buys 74,316 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Stifel Financial Corp grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 341.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,107 shares of the casino operator's stock after acquiring an additional 74,316 shares during the period. Stifel Financial Corp owned 0.09% of Wynn Resorts worth $8,281,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in Wynn Resorts during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts in the third quarter worth $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Wynn Resorts in the fourth quarter worth $36,000. Spire Wealth Management lifted its position in Wynn Resorts by 116.4% during the fourth 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 purchased a new stake in shares of Wynn Resorts in the fourth quarter worth about $45,000. 88.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WYNN. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and upped their target price for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Barclays lowered their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Mizuho upped their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, February 14th. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of "Moderate Buy" and an average price target of $118.17.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the transaction, the insider now owns 10,905,025 shares of the company's stock, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company's stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $82.20 on Tuesday. The business has a 50 day simple moving average of $81.86 and a two-hundred day simple moving average of $86.73. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81. The stock has a market capitalization of $8.73 billion, a P/E ratio of 19.52, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. Wynn Resorts's dividend payout ratio is presently 23.75%.

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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