Wynn Resorts, Limited (NASDAQ:WYNN) Shares Acquired by IFP Advisors Inc

IFP Advisors Inc raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,813 shares of the casino operator’s stock after buying an additional 281 shares during the period. IFP Advisors Inc’s holdings in Wynn Resorts were worth $933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WYNN. New Wave Wealth Advisors LLC bought a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Wynn Resorts in the third quarter worth approximately $31,000. Spire Wealth Management boosted its stake in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares in the last quarter. Blue Trust Inc. increased its position in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Stock Down 3.2 %

Shares of NASDAQ:WYNN opened at $88.19 on Friday. The company’s fifty day moving average is $85.35 and its two-hundred day moving average is $87.66. The company has a market cap of $9.38 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Analyst Ratings Changes

Several research analysts recently weighed in on WYNN shares. Macquarie reaffirmed an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho raised their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Morgan Stanley decreased their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, 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.