Virtu Financial LLC Takes $1.25 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Virtu Financial LLC bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,210 shares of the casino operator’s stock, valued at approximately $1,248,000.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after purchasing an additional 109 shares during the period. Fifth Third Bancorp increased its stake in Wynn Resorts by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock worth $145,000 after purchasing an additional 111 shares during the period. Empirical Finance LLC increased its stake in Wynn Resorts by 3.7% in the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after purchasing an additional 114 shares during the period. EntryPoint Capital LLC increased its stake in Wynn Resorts by 7.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after purchasing an additional 117 shares during the period. Finally, Federated Hermes Inc. increased its stake in Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares during the period. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WYNN shares. Wells Fargo & Company decreased their price target on Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, July 18th. Barclays lifted their price objective on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Macquarie cut their price objective on Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Finally, Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Four research 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.53.

Wynn Resorts Trading Down 2.4 %

Shares of NASDAQ:WYNN traded down $1.91 on Friday, reaching $76.80. The company had a trading volume of 4,078,993 shares, compared to its average volume of 1,834,763. Wynn Resorts, Limited has a 52-week low of $75.50 and a 52-week high of $110.38. The firm’s 50 day simple moving average is $87.52 and its 200-day simple moving average is $95.39. The firm has a market capitalization of $8.61 billion, a PE ratio of 10.52 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. As a group, equities research analysts predict that Wynn Resorts, Limited will post 5.62 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Wynn Resorts’s payout ratio is currently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.