Vanguard Capital Wealth Advisors Invests $323,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Vanguard Capital Wealth Advisors bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,550 shares of the casino operator’s stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Wynn Resorts by 130.9% in the fourth quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator’s stock worth $13,101,000 after purchasing an additional 81,338 shares during the period. Synergy Asset Management LLC bought a new position in shares of Wynn Resorts in the fourth quarter worth $1,150,000. Keybank National Association OH increased its position in shares of Wynn Resorts by 8.1% in the third quarter. Keybank National Association OH now owns 249,716 shares of the casino operator’s stock worth $23,076,000 after purchasing an additional 18,802 shares during the period. Kestra Advisory Services LLC increased its position in shares of Wynn Resorts by 11.4% in the third quarter. Kestra Advisory Services LLC now owns 6,202 shares of the casino operator’s stock worth $573,000 after purchasing an additional 633 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Wynn Resorts in the fourth quarter worth $10,228,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. Insiders have sold a total of 26,578 shares of company stock valued at $2,850,282 over the last ninety days. 0.52% of the stock is owned by company insiders.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN traded down $5.33 during midday trading on Tuesday, hitting $91.65. 2,750,499 shares of the stock were exchanged, compared to its average volume of 1,782,483. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 15.33 and a beta of 1.93. The business’s 50-day moving average price is $101.32 and its 200 day moving average price is $95.12. Wynn Resorts, Limited has a 12 month low of $81.65 and a 12 month high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm’s quarterly revenue was up 83.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.23) earnings per share. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.37 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, February 16th. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WYNN. Wells Fargo & Company raised their price target on Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Mizuho initiated coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price on the stock. Barclays lifted their target price on Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Susquehanna lifted their target price on Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. Finally, StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.43.

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.