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

IFP Advisors Inc lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

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

Wynn Resorts Stock Down 3.2 %

Shares of NASDAQ WYNN opened at $88.19 on Friday. The stock’s 50 day moving average price is $85.35 and its two-hundred day moving average price is $87.66. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market capitalization of $9.38 billion, a P/E ratio of 20.95, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly 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 business had revenue of $1.84 billion for 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, analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

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

Analyst Ratings Changes

WYNN has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Mizuho upped their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley decreased their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.58.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

About Wynn Resorts

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.