Virtu Financial LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Virtu Financial LLC purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,146 shares of the casino operator’s stock, valued at approximately $2,942,000.

A number of other institutional investors have also recently bought and sold shares of the business. Fisher Asset Management LLC grew its position in shares of Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $75,872,000. Holocene Advisors LP grew its position in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Wynn Resorts in the third quarter valued at approximately $19,753,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Wynn Resorts by 466.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator’s stock valued at $20,112,000 after purchasing an additional 172,717 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley decreased their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Mizuho boosted their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Barclays boosted their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Two 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $82.63 on Friday. The business has a fifty day moving average price of $85.71 and a two-hundred day moving average price of $88.92. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a market capitalization of $8.79 billion, a PE ratio of 19.63, a PEG ratio of 2.35 and a beta of 1.76.

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 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 firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

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

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.

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.