Wynn Resorts, Limited (NASDAQ:WYNN) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 66.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 662 shares of the casino operator’s stock after acquiring an additional 264 shares during the quarter. GAMMA Investing LLC’s holdings in Wynn Resorts were worth $68,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WYNN. Nisa Investment Advisors LLC boosted its holdings in Wynn Resorts by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after buying an additional 109 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares during the period. NBC Securities Inc. lifted its holdings in shares of Wynn Resorts by 3.4% during the first quarter. NBC Securities Inc. now owns 6,125 shares of the casino operator’s stock valued at $626,000 after purchasing an additional 200 shares during the last quarter. CWM LLC increased its stake in Wynn Resorts by 9.6% in the 4th quarter. CWM LLC now owns 2,354 shares of the casino operator’s stock worth $214,000 after purchasing an additional 206 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Wynn Resorts by 0.9% during the 4th quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock worth $2,568,000 after buying an additional 241 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $89.88 on Monday. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 12.31 and a beta of 1.85. The stock’s 50 day simple moving average is $94.67 and its 200 day simple moving average is $96.80. Wynn Resorts, Limited has a twelve month low of $81.65 and a twelve month high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $0.29 EPS. Wynn Resorts’s quarterly revenue was up 30.9% compared to the same quarter last year. On average, analysts forecast that Wynn Resorts, Limited will post 5.58 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.11%. Wynn Resorts’s payout ratio is 13.70%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Mizuho initiated coverage on shares of Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective on the stock. Morgan Stanley lifted their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.31.

Insider Buying and Selling at Wynn Resorts

In related news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the transaction, the director now owns 9,226 shares of the company’s stock, valued at $870,842.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.