Optimize Financial Inc Buys New Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Optimize Financial Inc bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,611 shares of the casino operator’s stock, valued at approximately $570,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its stake in shares of Wynn Resorts by 5.8% in the 4th quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after acquiring an additional 119 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after purchasing an additional 122 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Wynn Resorts by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator’s stock worth $2,681,000 after purchasing an additional 142 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of Wynn Resorts by 5.0% in the 4th quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator’s stock valued at $275,000 after buying an additional 152 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Wynn Resorts by 1.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator’s stock valued at $844,000 after buying an additional 176 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent research reports. Morgan Stanley cut their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their price target for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $119.58.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the purchase, the insider now directly owns 12,600,000 shares in the company, valued at $1,070,118,000. This trade represents a 0.09 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 438,700 shares of company stock worth $31,300,943 in the last quarter. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 1.2 %

WYNN stock opened at $73.19 on Friday. The business has a 50 day moving average of $83.27 and a 200-day moving average of $88.68. The firm has a market cap of $7.77 billion, a PE ratio of 17.38, a P/E/G ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last announced its 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. The firm 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%. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

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.