Polymer Capital Management HK LTD Purchases New Shares in Wynn Resorts, Limited (NASDAQ:WYNN)

Polymer Capital Management HK LTD acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 16,000 shares of the casino operator’s stock, valued at approximately $1,379,000.

Other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board lifted its holdings in Wynn Resorts by 6.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,078 shares of the casino operator’s stock worth $295,000 after buying an additional 200 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Wynn Resorts by 41.2% in the third quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock valued at $399,000 after acquiring an additional 1,215 shares during the last quarter. Hilltop Holdings Inc. acquired a new stake in Wynn Resorts in the third quarter worth about $260,000. Investment Management Corp of Ontario bought a new stake in Wynn Resorts during the 3rd quarter worth about $322,000. Finally, IHT Wealth Management LLC lifted its position in Wynn Resorts by 1.7% during the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after purchasing an additional 112 shares during the period. 88.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WYNN shares. Mizuho boosted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Barclays increased their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Stifel Nicolaus lifted their price objective 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 on the stock in a research note on Monday, February 24th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Trading Down 3.8 %

WYNN stock opened at $70.09 on Friday. The stock has a 50-day moving average price of $85.25 and a two-hundred day moving average price of $89.23. Wynn Resorts, Limited has a 1 year low of $66.20 and a 1 year high of $108.50. The stock has a market cap of $7.44 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last posted 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 the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the firm’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 acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of Wynn Resorts stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $84.93 per share, with a total value of $974,571.75. Following the completion of the transaction, the insider now directly owns 12,600,000 shares of the company’s stock, valued at approximately $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 38,700 shares of company stock valued at $3,427,943. Corporate insiders own 0.52% of the company’s stock.

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.