Victory Capital Management Inc. Sells 16,008 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Victory Capital Management Inc. trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 52.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,335 shares of the casino operator’s stock after selling 16,008 shares during the quarter. Victory Capital Management Inc.’s holdings in Wynn Resorts were worth $1,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WYNN. Fifth Third Bancorp raised its stake in Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after buying an additional 120 shares during the period. Allworth Financial LP lifted its holdings in shares of Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after purchasing an additional 133 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Wynn Resorts by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 149 shares during the period. Garde Capital Inc. increased its stake in Wynn Resorts by 10.1% during the 1st quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock worth $177,000 after purchasing an additional 160 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 31.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN opened at $93.45 on Tuesday. The firm has a 50-day moving average of $93.88 and a 200-day moving average of $87.99. The company has a market cap of $10.26 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 3.28 and a beta of 1.80. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts expect that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio is 12.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WYNN. Macquarie reiterated an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Susquehanna increased their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.71.

About Wynn Resorts

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.