3,403 Shares in Wynn Resorts, Limited (NASDAQ:WYNN) Acquired by Ground Swell Capital LLC

Ground Swell Capital LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,403 shares of the casino operator’s stock, valued at approximately $293,000.

Several other large investors have also modified their holdings of the company. State of Tennessee Department of Treasury lifted its position in Wynn Resorts by 73.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator’s stock worth $2,050,000 after acquiring an additional 10,041 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Wynn Resorts by 190.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator’s stock worth $1,706,000 after purchasing an additional 12,993 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Wynn Resorts during the 4th quarter worth about $2,296,000. Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts during the 4th quarter valued at approximately $5,216,000. Finally, Alliancebernstein L.P. grew its holdings in Wynn Resorts by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator’s stock valued at $10,577,000 after buying an additional 13,553 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on WYNN shares. 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 report on Tuesday, February 18th. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research note on Wednesday. Mizuho decreased their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating on the stock in a research report on Thursday. Macquarie reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.92.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $87.93 on Friday. The business’s fifty day moving average price is $80.65 and its two-hundred day moving average price is $85.88. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $1.59 EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. Research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts’s payout ratio is currently 27.78%.

Insider Buying and Selling

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $80.99 per share, for a total transaction of $406,974.75. Following 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 438,700 shares of company stock worth $31,300,943 in the last three months. Insiders own 0.52% of the company’s stock.

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.