Baker Avenue Asset Management LP Makes New $791,000 Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Baker Avenue Asset Management LP acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, Holdings Channel reports. The firm acquired 9,179 shares of the casino operator’s stock, valued at approximately $791,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts during the third quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new stake in Wynn Resorts during the fourth quarter worth about $36,000. Spire Wealth Management increased its stake 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 acquiring an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts during the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $82.98 on Tuesday. The firm has a 50 day simple moving average of $80.88 and a 200 day simple moving average of $86.07. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The firm has a market cap of $8.81 billion, a P/E ratio of 19.71, a P/E/G ratio of 2.35 and a beta of 1.33.

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

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Mizuho lifted their price target 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. Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays lowered their price target on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.17.

Insider Transactions at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta bought 5,025 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was bought at an average cost 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. This represents a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased 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 in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 438,700 shares of company stock worth $31,300,943 in the last quarter. 0.52% of the stock is owned by company insiders.

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.