Magnetar Financial LLC Buys Shares of 3,260 Wynn Resorts, Limited (NASDAQ:WYNN)

Magnetar Financial LLC bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,260 shares of the casino operator’s stock, valued at approximately $281,000.

Several other large investors also recently added to or reduced their stakes in WYNN. Fisher Asset Management LLC increased its stake 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 worth $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after acquiring an additional 34,907 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Wynn Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after acquiring an additional 5,032 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Wynn Resorts in the fourth quarter worth $75,872,000. Finally, Holocene Advisors LP increased its stake 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 worth $72,672,000 after acquiring an additional 755,236 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

WYNN stock opened at $82.63 on Monday. 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 $85.71 and a two-hundred day moving average of $89.01. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

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 1.21%. 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.

Analyst Ratings Changes

A number of research firms have recently weighed in on WYNN. 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. Barclays upped 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. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

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.