GKV Capital Management Co. Inc. Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

GKV Capital Management Co. Inc. acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,160 shares of the casino operator’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in Wynn Resorts in the third quarter worth approximately $31,000. SBI Securities Co. Ltd. purchased a new position in Wynn Resorts in the fourth quarter worth approximately $36,000. Spire Wealth Management increased its stake in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after acquiring an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in Wynn Resorts in the fourth quarter valued at $45,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts 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 transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 5,025 shares of the stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the transaction, the insider now directly 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 purchased 438,700 shares of company stock worth $31,300,943 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WYNN. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and lifted their target price for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Stifel Nicolaus raised their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $73.73 on Thursday. The stock’s fifty day moving average is $82.85 and its two-hundred day moving average is $88.30. The stock has a market cap of $7.83 billion, a PE ratio of 17.51, a P/E/G ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81.

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

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.36%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

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.