BIT Capital GmbH Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

BIT Capital GmbH purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,070 shares of the casino operator’s stock, valued at approximately $781,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts during the third quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Wynn Resorts during the fourth quarter valued at $36,000. Spire Wealth Management boosted its position in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after buying an additional 234 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

WYNN stock opened at $85.83 on Thursday. The company has a market capitalization of $9.11 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The company’s fifty day moving average price is $85.93 and its 200-day moving average price is $89.10. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. This represents a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 38,700 shares of company stock valued at $3,427,943 in the last quarter. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Barclays boosted their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Mizuho raised their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Finally, Morgan Stanley reduced their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

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.