City State Bank Cuts Stock Position in Wynn Resorts, Limited $WYNN

City State Bank reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 10.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,375 shares of the casino operator’s stock after selling 155 shares during the quarter. City State Bank’s holdings in Wynn Resorts were worth $129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WYNN. GAMMA Investing LLC boosted its holdings in shares of Wynn Resorts by 10.6% in the 1st quarter. GAMMA Investing LLC now owns 3,191 shares of the casino operator’s stock worth $266,000 after purchasing an additional 306 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Wynn Resorts by 21.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,738 shares of the casino operator’s stock valued at $1,982,000 after buying an additional 4,134 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Wynn Resorts during the first quarter valued at about $1,690,000. Asset Management One Co. Ltd. grew its stake in shares of Wynn Resorts by 11.1% during the first quarter. Asset Management One Co. Ltd. now owns 40,324 shares of the casino operator’s stock valued at $3,367,000 after buying an additional 4,015 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Wynn Resorts by 49.0% during the first quarter. Bessemer Group Inc. now owns 994 shares of the casino operator’s stock valued at $83,000 after buying an additional 327 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 3,066 shares in the company, valued at approximately $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $125.57 on Friday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.23. The company has a market cap of $13.06 billion, a PE ratio of 37.71, a P/E/G ratio of 5.13 and a beta of 1.31. The stock’s 50-day moving average is $122.42 and its 200 day moving average is $103.91.

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

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio is 30.03%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WYNN. JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and raised their price objective for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Mizuho raised their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. Barclays raised their price objective on Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, Stifel Nicolaus raised their target price on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $129.64.

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.