Elo Mutual Pension Insurance Co Buys Shares of 11,109 Wynn Resorts, Limited (NASDAQ:WYNN)

Elo Mutual Pension Insurance Co acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,109 shares of the casino operator’s stock, valued at approximately $957,000.

A number of other institutional investors have also made changes to their positions in the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Wynn Resorts during the 4th quarter worth approximately $36,000. Spire Wealth Management raised its stake in shares of Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $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 Down 4.4 %

NASDAQ WYNN opened at $82.33 on Monday. The firm has a 50-day moving average price of $85.96 and a two-hundred day moving average price of $89.31. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The company has a market capitalization of $8.74 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Announces Dividend

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WYNN shares. Macquarie reaffirmed an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Barclays raised 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 boosted their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and raised their price objective for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.58.

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.