Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,570 shares of the casino operator’s stock after selling 2,884 shares during the period. Commonwealth Equity Services LLC’s holdings in Wynn Resorts were worth $3,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WYNN. Blue Trust Inc. raised its holdings in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter worth about $27,000. Sunbelt Securities Inc. increased its holdings in shares of Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after acquiring an additional 300 shares during the period. Register Financial Advisors LLC bought a new position in Wynn Resorts in the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $38,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Wynn Resorts stock traded down $0.83 during mid-day trading on Friday, reaching $86.45. The stock had a trading volume of 715,871 shares, compared to its average volume of 1,775,690. The stock’s 50-day simple moving average is $92.97 and its 200-day simple moving average is $96.75. The firm has a market capitalization of $9.69 billion, a PE ratio of 11.96 and a beta of 1.82. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business’s revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. On average, research analysts forecast that Wynn Resorts, Limited will post 5.63 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid 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 1.16%. Wynn Resorts’s payout ratio is 13.70%.

Insider Buying and Selling

In other news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WYNN shares. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, May 23rd. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Mizuho began coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target on the stock. Morgan Stanley increased their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays increased their price target on Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.15.

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.