Wynn Resorts, Limited $WYNN Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 23.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,950 shares of the casino operator’s stock after selling 2,087 shares during the period. US Bancorp DE’s holdings in Wynn Resorts were worth $651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WYNN. Teachers Retirement System of The State of Kentucky raised its position in shares of Wynn Resorts by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after purchasing an additional 132 shares during the last quarter. Navalign LLC increased its stake in Wynn Resorts by 1.8% during the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock worth $689,000 after buying an additional 144 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares during the last quarter. CX Institutional raised its holdings in shares of Wynn Resorts by 6.7% during the second quarter. CX Institutional now owns 3,058 shares of the casino operator’s stock valued at $286,000 after acquiring an additional 192 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Wynn Resorts by 32.7% in the first quarter. Mather Group LLC. now owns 896 shares of the casino operator’s stock valued at $75,000 after acquiring an additional 221 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on WYNN shares. Jefferies Financial Group increased their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Morgan Stanley raised their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a research report on Tuesday, October 14th. Finally, Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Wednesday, September 3rd. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.64.

Wynn Resorts Trading Up 1.6%

Shares of WYNN stock opened at $117.81 on Monday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23. The company’s 50-day moving average price is $121.23 and its 200-day moving average price is $102.23. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 6.09 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $1.12 earnings per share. As a group, equities research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s dividend payout ratio is presently 30.03%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director owned 3,066 shares of the company’s stock, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

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.