Aster Capital Management DIFC Ltd Purchases 3,617 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Aster Capital Management DIFC Ltd raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1,137.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,935 shares of the casino operator’s stock after buying an additional 3,617 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Wynn Resorts were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WYNN. New Wave Wealth Advisors LLC purchased a new stake in Wynn Resorts in the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the 3rd quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the 4th quarter worth $36,000. Spire Wealth Management grew its position in Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after acquiring an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in 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 acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 3.8 %

Shares of NASDAQ:WYNN opened at $70.09 on Monday. The company has a 50-day moving average price of $85.25 and a 200-day moving average price of $89.30. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 12 month low of $66.20 and a 12 month high of $108.50.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating 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, research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm 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 1.43%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the 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 completion of the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Tilman J. Fertitta bought 5,025 shares of Wynn Resorts stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the acquisition, the insider now directly owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This trade represents a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 38,700 shares of company stock worth $3,427,943 over the last quarter. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Morgan Stanley cut 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. Barclays lifted their price target on shares of 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 upped their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.58.

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.