Cinctive Capital Management LP Buys 2,259 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Cinctive Capital Management LP boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,298 shares of the casino operator’s stock after acquiring an additional 2,259 shares during the quarter. Cinctive Capital Management LP’s holdings in Wynn Resorts were worth $8,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WYNN. IHT Wealth Management LLC lifted its stake in shares of Wynn Resorts by 1.7% in the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after buying an additional 112 shares in the last quarter. Fifth Third Bancorp increased its holdings in Wynn Resorts by 5.8% in the 4th quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after buying an additional 119 shares in the last quarter. Venturi Wealth Management LLC grew its position in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after purchasing an additional 122 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Wynn Resorts by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator’s stock valued at $2,681,000 after buying an additional 142 shares during the period. Finally, Metis Global Partners LLC boosted its stake in shares of Wynn Resorts by 5.0% in the 4th quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator’s stock worth $275,000 after buying an additional 152 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $82.73 on Wednesday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm’s 50 day moving average price is $85.86 and its 200-day moving average price is $89.39. The stock has a market cap of $8.78 billion, a P/E ratio of 19.65, a PEG ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Macquarie reiterated an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their price target for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Barclays increased their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Mizuho upped their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Finally, StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction 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 represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the company’s stock in a transaction on Monday, March 24th. The shares were acquired at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the acquisition, the insider now owns 12,600,000 shares in the company, valued at $1,070,118,000. This represents a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 38,700 shares of company stock worth $3,427,943. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Company 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.