Cambridge Investment Research Advisors Inc. Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Cambridge Investment Research Advisors Inc. boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 4.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,465 shares of the casino operator’s stock after purchasing an additional 1,193 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Wynn Resorts were worth $2,430,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Dupont Capital Management Corp purchased a new position in shares of Wynn Resorts during the fourth quarter valued at about $25,000. UMB Bank n.a. grew its position in shares of Wynn Resorts by 200.0% during the fourth quarter. UMB Bank n.a. now owns 300 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Wynn Resorts during the fourth quarter valued at about $36,000. Penserra Capital Management LLC grew its position in shares of Wynn Resorts by 62.6% during the third quarter. Penserra Capital Management LLC now owns 504 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 194 shares in the last quarter. Finally, Mach 1 Financial Group LLC purchased a new position in shares of Wynn Resorts during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 70.95% of the company’s stock.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $105.39 on Monday. The company has a 50 day moving average price of $109.98 and a 200-day moving average price of $96.94. Wynn Resorts, Limited has a fifty-two week low of $50.20 and a fifty-two week high of $117.86. The company has a market capitalization of $11.98 billion, a PE ratio of -28.41 and a beta of 2.03.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The casino operator reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.47. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The business’s quarterly revenue was up 49.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.21) earnings per share. On average, analysts forecast that Wynn Resorts, Limited will post 1.05 earnings per share for the current year.

Wynn Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, May 22nd. Wynn Resorts’s payout ratio is -107.82%.

Insider Activity at Wynn Resorts

In related news, CEO Craig Scott Billings sold 10,901 shares of Wynn Resorts stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $103.26, for a total transaction of $1,125,637.26. Following the transaction, the chief executive officer now directly owns 255,781 shares of the company’s stock, valued at $26,411,946.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Wynn Resorts news, CEO Craig Scott Billings sold 10,901 shares of Wynn Resorts stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $103.26, for a total value of $1,125,637.26. Following the transaction, the chief executive officer now directly owns 255,781 shares of the company’s stock, valued at $26,411,946.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Julie Cameron-Doe sold 4,000 shares of Wynn Resorts stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total transaction of $432,320.00. Following the completion of the transaction, the chief financial officer now directly owns 65,970 shares in the company, valued at $7,130,037.60. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Wynn Resorts from $128.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday, April 13th. Citigroup increased their price target on shares of Wynn Resorts from $134.50 to $138.00 in a report on Wednesday, May 10th. Stifel Nicolaus increased their price target on shares of Wynn Resorts from $127.00 to $137.00 in a report on Wednesday, May 10th. Morgan Stanley increased their price target on shares of Wynn Resorts from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Finally, Credit Suisse Group increased their price target on shares of Wynn Resorts from $117.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.82.

Wynn Resorts Profile

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Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.