AGF Management Ltd. Takes $2.40 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

AGF Management 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 27,874 shares of the casino operator’s stock, valued at approximately $2,402,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at $5,457,000. Marathon Trading Investment Management LLC purchased a new stake in shares of Wynn Resorts during the fourth quarter worth $732,000. Independent Advisor Alliance boosted its position in Wynn Resorts by 1.4% during the fourth quarter. Independent Advisor Alliance now owns 17,383 shares of the casino operator’s stock valued at $1,498,000 after purchasing an additional 232 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Wynn Resorts by 5.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 12,713 shares of the casino operator’s stock valued at $1,095,000 after purchasing an additional 655 shares in the last quarter. Finally, American Assets Inc. increased its position in Wynn Resorts by 52.2% in the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator’s stock worth $879,000 after purchasing an additional 3,500 shares during 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 related news, Director Philip G. Satre acquired 22,200 shares of the company’s 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 acquisition, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley reduced their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays lifted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $83.23 on Friday. The stock’s 50-day moving average is $85.42 and its 200-day moving average is $88.52. The company has a market cap of $8.86 billion, a P/E ratio of 19.77, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

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 analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

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.