Y Intercept Hong Kong Ltd Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Y Intercept Hong Kong Ltd purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,721 shares of the casino operator’s stock, valued at approximately $1,010,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the third quarter worth $31,000. Spire Wealth Management boosted 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 last quarter. Blue Trust Inc. grew its stake in Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after purchasing an additional 133 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought 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. The trade was a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN opened at $88.19 on Friday. The firm has a market cap of $9.38 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm’s 50-day simple moving average is $85.35 and its 200 day simple moving average is $87.66.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS 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 business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s payout ratio is presently 23.75%.

Analysts Set New Price Targets

A number of research firms recently commented on WYNN. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Morgan Stanley dropped their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday. Mizuho lifted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

About Wynn Resorts

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.