Optimize Financial Inc Invests $570,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Optimize Financial Inc purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,611 shares of the casino operator’s stock, valued at approximately $570,000.

A number of other hedge funds have also bought and sold shares of WYNN. Captrust Financial Advisors grew its position in shares of Wynn Resorts by 41.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock worth $399,000 after purchasing an additional 1,215 shares in the last quarter. Wellington Management Group LLP grew its position in Wynn Resorts by 90.6% during the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after buying an additional 54,995 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Wynn Resorts during the 3rd quarter worth $290,000. MML Investors Services LLC raised its holdings in Wynn Resorts by 135.7% in the 3rd quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator’s stock valued at $1,630,000 after acquiring an additional 9,788 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Wynn Resorts by 15.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,977 shares of the casino operator’s stock valued at $2,970,000 after acquiring an additional 4,212 shares during the period. 88.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WYNN. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Morgan Stanley dropped their target price 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. Stifel Nicolaus increased their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Stock Up 1.2 %

Shares of WYNN opened at $73.19 on Friday. The stock has a market cap of $7.77 billion, a PE ratio of 17.38, a PEG 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. The business has a 50-day simple moving average of $83.27 and a two-hundred day simple moving average of $88.68.

Wynn Resorts (NASDAQ:WYNN) last released 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. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, equities research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors 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 dividend yield of 1.37%. Wynn Resorts’s dividend payout ratio is 23.75%.

Insider Activity at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 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 filing with the SEC, which is available at this hyperlink. Also, major shareholder Tilman J. Fertitta acquired 300,000 shares of Wynn Resorts stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $70.37 per share, for a total transaction of $21,111,000.00. Following the completion of the purchase, the insider now owns 12,900,000 shares in the company, valued at approximately $907,773,000. The trade was a 2.38 % 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 three months. 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.