Graham Capital Management L.P. Buys Shares of 7,794 Wynn Resorts, Limited (NASDAQ:WYNN)

Graham Capital Management L.P. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,794 shares of the casino operator’s stock, valued at approximately $672,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WYNN. State of Tennessee Department of Treasury raised its position in Wynn Resorts by 73.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator’s stock worth $2,050,000 after buying an additional 10,041 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Wynn Resorts by 190.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator’s stock worth $1,706,000 after acquiring an additional 12,993 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $2,296,000. Brandywine Global Investment Management LLC bought a new position in Wynn Resorts during the fourth quarter valued at approximately $5,216,000. Finally, Alliancebernstein L.P. grew its position in Wynn Resorts by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator’s stock worth $10,577,000 after purchasing an additional 13,553 shares during the period. 88.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of Wynn Resorts stock in a transaction on Friday, March 21st. The stock was bought at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the acquisition, the insider now owns 10,905,025 shares in the company, valued at $883,197,974.75. The trade was a 0.05% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 438,700 shares of company stock valued at $31,300,943 over the last ninety days. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WYNN shares. Argus lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. Mizuho reduced their price objective on Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Citigroup raised Wynn Resorts from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 7th. Morgan Stanley cut their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Three equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.92.

Wynn Resorts Trading Up 0.7%

Wynn Resorts stock opened at $97.49 on Thursday. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 2.35 and a beta of 1.33. The firm has a 50 day moving average of $81.09 and a 200 day moving average of $85.85.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. On average, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Wynn Resorts’s dividend payout ratio is presently 27.78%.

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.