Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 12.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,502 shares of the casino operator’s stock after selling 4,884 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Wynn Resorts were worth $3,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WYNN. SG Americas Securities LLC lifted its stake in Wynn Resorts by 61.5% in the 4th quarter. SG Americas Securities LLC now owns 8,118 shares of the casino operator’s stock worth $740,000 after acquiring an additional 3,091 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Wynn Resorts by 9.4% during the 4th quarter. Raymond James & Associates now owns 102,863 shares of the casino operator’s stock worth $9,372,000 after acquiring an additional 8,802 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Wynn Resorts by 38.9% in the 4th quarter. Pacer Advisors Inc. now owns 12,320 shares of the casino operator’s stock valued at $1,122,000 after purchasing an additional 3,451 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 3,000.0% in the 4th 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 last quarter. Finally, Oak Thistle LLC bought a new position in Wynn Resorts during the 4th quarter valued at about $660,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Up 1.1 %

Shares of Wynn Resorts stock traded up $0.93 on Wednesday, reaching $83.44. 717,374 shares of the company were exchanged, compared to its average volume of 1,793,363. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 11.30 and a beta of 1.82. Wynn Resorts, Limited has a one year low of $80.02 and a one year high of $110.38. The company has a 50-day moving average of $88.44 and a 200 day moving average of $95.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. Analysts predict that Wynn Resorts, Limited will post 5.62 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.20%. Wynn Resorts’s dividend payout ratio is 13.70%.

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the sale, the director now 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 accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WYNN. Stifel Nicolaus boosted their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Macquarie cut their price target on Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. Barclays increased their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Jefferies Financial Group reduced their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Mizuho started coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price target for the company. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.53.

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.