Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,400 shares of the casino operator’s stock after selling 1,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Wynn Resorts worth $7,444,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of WYNN. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $36,000. Spire Wealth Management raised its stake in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Argus downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Macquarie reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.17.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $82.20 on Tuesday. The firm has a 50 day simple moving average of $81.86 and a 200-day simple moving average of $86.73. The stock has a market capitalization of $8.73 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.22%. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Tilman J. Fertitta bought 100,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were bought at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the transaction, the insider now directly owns 13,000,000 shares of the company’s stock, valued at $879,060,000. This trade represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 438,700 shares of company stock valued at $31,300,943. Corporate 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.