GAMMA Investing LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

GAMMA Investing LLC bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 398 shares of the casino operator’s stock, valued at approximately $38,000.

Other large investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its position in Wynn Resorts by 20.7% during the third quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after purchasing an additional 248,820 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Wynn Resorts by 15.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock valued at $90,291,000 after buying an additional 128,094 shares in the last quarter. Bamco Inc. NY grew its stake in Wynn Resorts by 25.7% in the 3rd quarter. Bamco Inc. NY now owns 644,474 shares of the casino operator’s stock valued at $59,556,000 after acquiring an additional 131,937 shares during the period. Barclays PLC increased its holdings in Wynn Resorts by 41.6% in the 3rd quarter. Barclays PLC now owns 544,831 shares of the casino operator’s stock worth $50,345,000 after acquiring an additional 160,054 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Wynn Resorts by 20,031.9% during the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock worth $46,807,000 after acquiring an additional 504,003 shares during the period. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $96.71 on Friday. The company’s 50-day moving average is $100.60 and its two-hundred day moving average is $95.15. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 16.17 and a beta of 1.91. Wynn Resorts, Limited has a 1-year low of $81.65 and a 1-year high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company’s quarterly revenue was up 83.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.23) EPS. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, February 16th. Wynn Resorts’s dividend payout ratio (DPR) is 16.72%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Morgan Stanley increased their target price on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Macquarie raised their target price on Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Mizuho initiated coverage on Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Finally, Barclays raised their price objective on Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.43.

Insider Transactions at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Mulroy sold 960 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,578 shares of company stock worth $2,850,282. 0.52% of the stock is currently owned by insiders.

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.