Jefferies Financial Group Inc. grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,683,600 shares of the casino operator's stock after purchasing an additional 139,270 shares during the quarter. Wynn Resorts comprises approximately 0.8% of Jefferies Financial Group Inc.'s holdings, making the stock its 10th largest holding. Jefferies Financial Group Inc. owned 1.58% of Wynn Resorts worth $145,059,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in WYNN. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter valued at about $117,352,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $101,375,000. Raymond James Financial Inc. bought a new position in Wynn Resorts during the 4th quarter worth approximately $75,872,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after purchasing an additional 485,204 shares during the period. Finally, Deutsche Bank AG increased its stake in Wynn Resorts by 108.5% in the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock valued at $73,118,000 after purchasing an additional 441,558 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.
Wynn Resorts Stock Up 1.5 %
NASDAQ WYNN opened at $87.93 on Friday. The firm's 50 day moving average is $80.65 and its 200-day moving average is $85.80. The company has a market capitalization of $9.34 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. 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 issued its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The firm's quarterly revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.
Wynn Resorts Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 1.14%. Wynn Resorts's dividend payout ratio (DPR) is presently 27.78%.
Insider Buying and Selling at Wynn Resorts
In other news, Director Philip G. Satre bought 22,200 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Tilman J. Fertitta purchased 100,000 shares of the stock in a transaction on Monday, April 7th. The shares were acquired at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the transaction, the insider now owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 438,700 shares of company stock worth $31,300,943 over the last ninety days. 0.52% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on WYNN shares. Bank of America raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Finally, Mizuho decreased their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $112.92.
Read Our Latest Research Report on WYNN
About Wynn Resorts
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNN - Free Report).
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