Renaissance Technologies LLC Acquires 228,000 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Renaissance Technologies LLC lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 16.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,616,756 shares of the casino operator’s stock after acquiring an additional 228,000 shares during the quarter. Renaissance Technologies LLC owned 1.47% of Wynn Resorts worth $139,300,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC boosted its position in Wynn Resorts by 7.4% during the fourth quarter. Cerity Partners LLC now owns 57,687 shares of the casino operator’s stock valued at $5,198,000 after buying an additional 3,976 shares during the period. Polymer Capital Management HK LTD purchased a new stake in Wynn Resorts during the 4th quarter valued at about $1,379,000. Aster Capital Management DIFC Ltd grew its position in Wynn Resorts by 1,137.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,935 shares of the casino operator’s stock worth $339,000 after acquiring an additional 3,617 shares during the last quarter. Titleist Asset Management LLC purchased a new position in Wynn Resorts in the 4th quarter worth approximately $3,036,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $2,270,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WYNN. Morgan Stanley decreased their target price 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, February 24th. Mizuho upped 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. Macquarie reissued an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price target for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus lifted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the acquisition, the insider now directly owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 38,700 shares of company stock valued at $3,427,943 in the last quarter. 0.52% of the stock is owned by insiders.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $67.93 on Tuesday. Wynn Resorts, Limited has a 1 year low of $66.20 and a 1 year high of $108.50. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.35 and a beta of 1.53. The company has a 50-day moving average of $84.91 and a 200 day moving average of $89.21.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. Wynn Resorts’s payout ratio is presently 23.75%.

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.