Virtu Financial LLC Takes $2.94 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Virtu Financial LLC acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,146 shares of the casino operator’s stock, valued at approximately $2,942,000.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Wynn Resorts by 90.6% during the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock valued at $11,094,000 after acquiring an additional 54,995 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Wynn Resorts during the 4th quarter valued at approximately $75,872,000. Empirical Asset Management LLC bought a new stake in Wynn Resorts during the 4th quarter valued at approximately $903,000. Cookson Peirce & Co. Inc. boosted its stake in Wynn Resorts by 79.8% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator’s stock valued at $2,915,000 after purchasing an additional 15,017 shares during the period. Finally, ARGA Investment Management LP bought a new stake in Wynn Resorts during the 3rd quarter valued at approximately $2,174,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $82.63 on Friday. The stock’s 50-day moving average is $85.71 and its 200-day moving average is $88.92. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its 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. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WYNN shares. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Morgan Stanley decreased their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Macquarie restated an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Stifel Nicolaus raised their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Two investment 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

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.