Blueshift Asset Management LLC Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Blueshift Asset Management LLC bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 6,189 shares of the casino operator’s stock, valued at approximately $533,000.

A number of other hedge funds also recently modified their holdings of the business. IHT Wealth Management LLC lifted its holdings in shares of Wynn Resorts by 1.7% in the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after purchasing an additional 112 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after acquiring an additional 119 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after acquiring an additional 122 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Wynn Resorts by 5.0% in the fourth quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator’s stock worth $275,000 after acquiring an additional 152 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Wynn Resorts by 1.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock worth $844,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Stifel Nicolaus upped their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Mizuho upped 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. 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. Finally, StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Two 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. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Price Performance

WYNN stock opened at $83.07 on Friday. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a 50-day moving average of $85.68 and a two-hundred day moving average of $88.79. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly 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 net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is presently 23.75%.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Company 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.