Paradigm Asset Management Co. LLC Increases Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Paradigm Asset Management Co. LLC lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 142.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,213 shares of the casino operator’s stock after acquiring an additional 1,300 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Wynn Resorts were worth $191,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fisher Asset Management LLC lifted its position in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares during the last quarter. Holocene Advisors LP raised its stake in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after acquiring an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Wynn Resorts during the third quarter valued at approximately $58,486,000. Weiss Asset Management LP acquired a new stake in Wynn Resorts in the third quarter valued at approximately $19,753,000. Finally, Regal Partners Ltd grew its holdings in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WYNN has been the subject of several analyst reports. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their price target for the company from $105.00 to $118.00 in a research note on Tuesday. Wells Fargo & Company dropped their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Buy” and a consensus target price of $120.58.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $90.76 on Friday. The firm has a market capitalization of $9.66 billion, a P/E ratio of 21.56, a PEG ratio of 2.35 and a beta of 1.76. The stock has a 50-day simple moving average of $85.31 and a two-hundred day simple moving average of $87.26. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced 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 company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.10%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost 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 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

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.