Wynn Resorts, Limited (NASDAQ:WYNN) Stake Boosted by Independent Advisor Alliance

Independent Advisor Alliance boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,383 shares of the casino operator’s stock after buying an additional 232 shares during the period. Independent Advisor Alliance’s holdings in Wynn Resorts were worth $1,498,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in Wynn Resorts during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. purchased a new position in Wynn Resorts during the 4th quarter worth approximately $36,000. Spire Wealth Management raised its stake in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings 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 valued at $81,000 after purchasing an additional 122 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WYNN shares. Macquarie reiterated an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Barclays boosted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Mizuho upped their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Trading Up 3.5 %

Wynn Resorts stock opened at $86.18 on Friday. The company has a market capitalization of $9.17 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The firm’s fifty day simple moving average is $85.47 and its 200-day simple moving average is $88.55.

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

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Wynn Resorts’s payout ratio is currently 23.75%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

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.