Gabelli Funds LLC Grows Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Gabelli Funds LLC raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 15.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,400 shares of the casino operator’s stock after purchasing an additional 7,900 shares during the quarter. Gabelli Funds LLC’s holdings in Wynn Resorts were worth $5,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. Norges Bank acquired a new stake in Wynn Resorts during the fourth quarter worth about $117,352,000. Raymond James Financial Inc. purchased a new stake in Wynn Resorts during the fourth quarter worth $75,872,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after acquiring an additional 485,204 shares during the period. Renaissance Technologies LLC grew its holdings in Wynn Resorts by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock valued at $139,300,000 after purchasing an additional 228,000 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Wynn Resorts by 23.5% in the 4th quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock worth $59,064,000 after acquiring an additional 130,349 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WYNN shares. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Morgan Stanley dropped their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus raised their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 100,000 shares of Wynn Resorts stock in a transaction dated Monday, April 7th. The stock was purchased at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the acquisition, the insider now directly owns 13,000,000 shares in the company, valued at approximately $879,060,000. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Stock Up 1.4 %

Wynn Resorts stock opened at $74.77 on Friday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The firm has a market cap of $7.94 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The company’s 50 day moving average is $82.77 and its two-hundred day moving average is $88.15.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data 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. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed 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 1.34%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s payout ratio is presently 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.