AQR Capital Management LLC Lowers Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

AQR Capital Management LLC lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 48.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,100 shares of the casino operator's stock after selling 62,183 shares during the period. AQR Capital Management LLC owned 0.06% of Wynn Resorts worth $5,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Wynn Resorts during the third quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new position in Wynn Resorts in the 4th quarter valued at approximately $36,000. Spire Wealth Management grew its position in shares of Wynn Resorts by 116.4% in 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 in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Wynn Resorts during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, with a total value 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 $883,197,974.75. The trade was a 0.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were 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 represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 438,700 shares of company stock worth $31,300,943 in the last quarter. Insiders own 0.52% of the company's stock.

Wynn Resorts Trading Up 1.5 %

NASDAQ WYNN traded up $1.34 during trading on Friday, reaching $87.93. 3,216,434 shares of the company's stock were exchanged, compared to its average volume of 2,494,415. The company's fifty day simple moving average is $80.65 and its 200-day simple moving average is $85.71. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The firm has a market capitalization of $9.34 billion, a PE ratio of 20.89, a P/E/G ratio of 2.35 and a beta of 1.33.

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). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 earnings per share. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lowered 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. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a research note on Wednesday. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Wednesday. Finally, Stifel Nicolaus set a $113.00 price target on Wynn Resorts in a research report on Wednesday. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $112.92.

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.