Gamco Investors INC. ET AL Purchases 19,737 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Gamco Investors INC. ET AL increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 54.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 55,857 shares of the casino operator’s stock after buying an additional 19,737 shares during the period. Gamco Investors INC. ET AL’s holdings in Wynn Resorts were worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Brandywine Global Investment Management LLC acquired a new stake in Wynn Resorts during the fourth quarter worth $5,216,000. Alliancebernstein L.P. boosted its position in shares of Wynn Resorts by 12.4% during the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator’s stock valued at $10,577,000 after acquiring an additional 13,553 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Wynn Resorts in the fourth quarter valued at about $75,872,000. Dynamic Technology Lab Private Ltd bought a new position in Wynn Resorts during the fourth quarter worth about $2,270,000. Finally, Empirical Asset Management LLC acquired a new stake in Wynn Resorts during the fourth quarter valued at approximately $903,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta acquired 11,475 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the acquisition, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. This trade represents a 0.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction on 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 of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 438,700 shares of company stock worth $31,300,943 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

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

Wynn Resorts Stock Performance

Shares of WYNN opened at $73.73 on Thursday. The business’s fifty day moving average price is $82.85 and its two-hundred day moving average price is $88.30. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 71.17% and a net margin of 7.03%. As a group, research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is 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.