63,340 Shares in Wynn Resorts, Limited (NASDAQ:WYNN) Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, HoldingsChannel reports. The firm purchased 63,340 shares of the casino operator’s stock, valued at approximately $5,457,000.

A number of other hedge funds also recently bought and sold shares of WYNN. Fisher Asset Management LLC raised its position in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after buying an additional 1,644,965 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Wynn Resorts in the 4th quarter worth about $75,872,000. Holocene Advisors LP raised its position in Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after buying an additional 755,236 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Wynn Resorts in the 3rd quarter worth about $58,486,000. Finally, Weiss Asset Management LP purchased a new position in Wynn Resorts in the 3rd quarter worth about $19,753,000. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 2.0 %

NASDAQ WYNN opened at $85.67 on Thursday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.35 and a beta of 1.77. The company’s 50 day moving average is $85.42 and its two-hundred day moving average is $88.52.

Wynn Resorts (NASDAQ:WYNN) last released its 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 company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Insiders Place Their Bets

In related news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired 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 in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Macquarie reissued an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus increased their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded shares of 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 research note on Tuesday, February 18th. Finally, Mizuho increased their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Two equities 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. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $119.58.

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.