Garde Capital Inc. Buys New Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Garde Capital Inc. bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 880 shares of the casino operator’s stock, valued at approximately $73,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WYNN. Townsend Asset Management Corp NC ADV lifted its stake in shares of Wynn Resorts by 8.7% during the 1st quarter. Townsend Asset Management Corp NC ADV now owns 44,540 shares of the casino operator’s stock worth $3,719,000 after purchasing an additional 3,581 shares during the period. United Advisor Group LLC acquired a new stake in Wynn Resorts in the 1st quarter valued at $367,000. Global X Japan Co. Ltd. increased its holdings in Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Wynn Resorts by 404.8% during the first quarter. Janney Montgomery Scott LLC now owns 47,566 shares of the casino operator’s stock valued at $3,972,000 after acquiring an additional 38,144 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new stake in shares of Wynn Resorts during the first quarter valued at about $270,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

WYNN has been the subject of several recent analyst reports. Stifel Nicolaus set a $113.00 target price on Wynn Resorts in a research note on Wednesday, May 7th. Wall Street Zen cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Mizuho cut their price target on Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Barclays cut their price target on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.18.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $88.49 on Friday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81. The firm’s 50 day moving average price is $85.93 and its two-hundred day moving average price is $85.31.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data 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). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 11,475 shares of Wynn Resorts stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $84.93 per share, with a total value of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. This trade represents a 0.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director now directly owns 3,066 shares of the company’s stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their position. The disclosure for this sale can be found here. Insiders purchased 411,475 shares of company stock valued at $28,847,572 in the last quarter. Company insiders own 0.52% of the company’s stock.

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.