Stifel Financial Corp Decreases Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Stifel Financial Corp trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,791 shares of the casino operator’s stock after selling 9,721 shares during the period. Stifel Financial Corp’s holdings in Wynn Resorts were worth $2,089,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WYNN. Regal Partners Ltd increased its position in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares during the period. Crystal Rock Capital Management purchased a new position in shares of Wynn Resorts during the third quarter valued at about $719,000. MBB Public Markets I LLC bought a new position in Wynn Resorts in the second quarter worth about $698,000. APG Asset Management N.V. lifted its holdings in Wynn Resorts by 231.0% in the second quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock worth $933,000 after buying an additional 7,800 shares during the period. Finally, ARGA Investment Management LP bought a new stake in Wynn Resorts during the 3rd quarter valued at approximately $2,174,000. 88.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WYNN shares. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna boosted their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Morgan Stanley raised their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus dropped their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $88.31 on Friday. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 3.46 and a beta of 1.78. The stock has a 50 day moving average price of $93.82 and a 200 day moving average price of $87.78.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. Analysts forecast that Wynn Resorts, Limited will post 4.79 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Wynn Resorts 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.