Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Delta Investment Management LLC

Delta Investment Management LLC lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 26.8% during the fourth quarter, Holdings Channel reports. The fund owned 3,600 shares of the casino operator’s stock after selling 1,320 shares during the quarter. Delta Investment Management LLC’s holdings in Wynn Resorts were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Worldquant Millennium Advisors LLC acquired a new stake in Wynn Resorts during the fourth quarter valued at $14,413,000. Woodline Partners LP acquired a new stake in Wynn Resorts during the fourth quarter valued at $479,000. Twinbeech Capital LP acquired a new stake in Wynn Resorts during the fourth quarter valued at $363,000. Snowden Capital Advisors LLC grew its position in Wynn Resorts by 5.6% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock valued at $223,000 after buying an additional 138 shares during the period. Finally, Siemens Fonds Invest GmbH acquired a new stake in Wynn Resorts during the fourth quarter valued at $115,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Trading Down 2.9%

NASDAQ:WYNN opened at $93.77 on Wednesday. The company’s 50-day moving average price is $81.89 and its 200-day moving average price is $85.73. The company has a market cap of $9.80 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). The business 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 quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. On average, analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 27.78%.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta bought 100,000 shares of Wynn Resorts stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the purchase, the insider now directly owns 13,000,000 shares of the company’s stock, valued at approximately $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 416,500 shares of company stock valued at $29,254,547 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several research analyst reports. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays dropped their target price on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $113.00 target price on shares of Wynn Resorts in a research report on Wednesday, May 7th. Bank of America upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, May 7th. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Three 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, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $112.92.

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.