New Age Alpha Advisors LLC Takes $238,000 Position in Wynn Resorts, Limited (NASDAQ:WYNN)

New Age Alpha Advisors LLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,766 shares of the casino operator’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Wynn Resorts during the 4th quarter valued at approximately $117,352,000. Raymond James Financial Inc. bought a new position in Wynn Resorts during the 4th quarter valued at $75,872,000. Weiss Asset Management LP acquired a new position in Wynn Resorts during the 3rd quarter worth $19,753,000. Jacobs Levy Equity Management Inc. increased its position in shares of Wynn Resorts by 466.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator’s stock worth $20,112,000 after purchasing an additional 172,717 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Wynn Resorts by 23.5% in the 4th quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock valued at $59,064,000 after purchasing an additional 130,349 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the business’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now directly owns 10,905,025 shares in the company, valued at $883,197,974.75. The trade was a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 38,700 shares of company stock worth $3,427,943 in the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of research reports. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus boosted their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Barclays raised their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Macquarie restated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Trading Down 1.4 %

NASDAQ WYNN opened at $81.54 on Thursday. The company has a 50-day moving average price of $85.79 and a two-hundred day moving average price of $89.34. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53.

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

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

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.